Bastion Asset Management Inc. Reduces Holdings in North American Construction Group Ltd. $NOA

Bastion Asset Management Inc. cut its stake in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 32.0% in the first quarter, Holdings Channel.com reports. The fund owned 401,076 shares of the oil and gas company’s stock after selling 188,718 shares during the quarter. North American Construction Group comprises about 1.7% of Bastion Asset Management Inc.’s portfolio, making the stock its 27th largest holding. Bastion Asset Management Inc.’s holdings in North American Construction Group were worth $5,407,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of North American Construction Group during the second quarter worth about $122,000. Highlander Partners L.P. acquired a new position in North American Construction Group during the fourth quarter worth approximately $132,000. Qube Research & Technologies Ltd purchased a new stake in North American Construction Group in the third quarter valued at approximately $153,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of North American Construction Group in the fourth quarter valued at approximately $165,000. Finally, Lazard Asset Management LLC grew its position in shares of North American Construction Group by 1,424.1% during the third quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock worth $177,000 after acquiring an additional 11,635 shares during the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NOA shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of North American Construction Group in a research note on Tuesday, June 9th. BMO Capital Markets reiterated a “market perform” rating on shares of North American Construction Group in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of North American Construction Group in a research report on Thursday, July 9th. Roth Capital reaffirmed a “buy” rating and set a $27.50 price objective on shares of North American Construction Group in a research note on Friday, May 15th. Finally, ATB Cormark Capital Markets downgraded North American Construction Group from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.75.

North American Construction Group Trading Down 1.1%

Shares of North American Construction Group stock opened at $13.26 on Friday. The firm has a market cap of $369.55 million, a price-to-earnings ratio of 16.78 and a beta of 1.06. North American Construction Group Ltd. has a 52-week low of $12.07 and a 52-week high of $17.26. The company’s 50-day simple moving average is $13.87 and its 200-day simple moving average is $14.57. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 1.80.

North American Construction Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. North American Construction Group’s dividend payout ratio is 44.30%.

About North American Construction Group

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.