NewGen Asset Management Ltd Takes Position in North American Construction Group Ltd. $NOA

NewGen Asset Management Ltd bought a new position in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 302,908 shares of the oil and gas company’s stock, valued at approximately $4,719,000. North American Construction Group accounts for 1.3% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 14th largest position.

Several other large investors also recently modified their holdings of the business. Aegis Financial Corp purchased a new position in North American Construction Group during the 3rd quarter valued at about $11,965,000. TD Waterhouse Canada Inc. lifted its holdings in North American Construction Group by 106,111.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 278,275 shares of the oil and gas company’s stock worth $4,463,000 after buying an additional 278,013 shares during the period. CIBC Asset Management Inc grew its position in shares of North American Construction Group by 50.1% in the 3rd quarter. CIBC Asset Management Inc now owns 1,179,482 shares of the oil and gas company’s stock worth $16,763,000 after buying an additional 393,679 shares during the last quarter. Intact Investment Management Inc. grew its position in shares of North American Construction Group by 31.2% in the 2nd quarter. Intact Investment Management Inc. now owns 233,600 shares of the oil and gas company’s stock worth $3,737,000 after buying an additional 55,600 shares during the last quarter. Finally, Claret Asset Management Corp increased its stake in shares of North American Construction Group by 0.7% during the second quarter. Claret Asset Management Corp now owns 2,064,325 shares of the oil and gas company’s stock valued at $33,026,000 after buying an additional 14,686 shares during the period. 74.99% of the stock is owned by institutional investors.

North American Construction Group Trading Down 0.6%

NYSE NOA opened at $16.44 on Tuesday. The firm has a market capitalization of $472.65 million, a PE ratio of 17.49 and a beta of 1.09. The stock’s 50 day moving average is $15.69 and its 200 day moving average is $14.62. North American Construction Group Ltd. has a twelve month low of $12.12 and a twelve month high of $18.24. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 1.59.

Analyst Ratings Changes

A number of equities analysts recently commented on NOA shares. Loop Capital set a $24.00 target price on North American Construction Group in a report on Friday, December 19th. Wall Street Zen raised shares of North American Construction Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 24th. Roth Mkm initiated coverage on shares of North American Construction Group in a research report on Thursday, February 5th. They issued a “buy” rating and a $25.00 target price for the company. ATB Cormark Capital Markets reaffirmed a “sector perform” rating on shares of North American Construction Group in a research note on Friday, December 19th. Finally, Zacks Research cut shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.50.

North American Construction Group Company Profile

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.