North American Construction Group Ltd. (NYSE:NOA) Given Average Recommendation of “Hold” by Brokerages

Shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) have earned an average recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $25.75.

A number of research analysts have recently commented on NOA shares. Zacks Research lowered shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of North American Construction Group in a report on Thursday, July 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of North American Construction Group in a research report on Tuesday, June 9th. BMO Capital Markets restated a “market perform” rating on shares of North American Construction Group in a research note on Thursday, May 14th. Finally, ATB Cormark Capital Markets downgraded North American Construction Group from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 28th.

Hedge Funds Weigh In On North American Construction Group

Several large investors have recently bought and sold shares of the business. Intact Investment Management Inc. increased its holdings in North American Construction Group by 368.0% during the 4th quarter. Intact Investment Management Inc. now owns 117,000 shares of the oil and gas company’s stock worth $1,684,000 after purchasing an additional 92,000 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in North American Construction Group by 65.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company’s stock worth $5,430,000 after acquiring an additional 158,731 shares during the last quarter. Bastion Asset Management Inc. bought a new position in shares of North American Construction Group during the 4th quarter worth approximately $8,475,000. CIBC Asset Management Inc raised its holdings in shares of North American Construction Group by 22.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company’s stock valued at $20,812,000 after purchasing an additional 262,673 shares during the last quarter. Finally, Aegis Financial Corp boosted its holdings in North American Construction Group by 23.3% during the fourth quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company’s stock worth $14,967,000 after purchasing an additional 196,243 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

North American Construction Group Price Performance

Shares of North American Construction Group stock opened at $14.34 on Thursday. The stock has a market capitalization of $399.76 million, a price-to-earnings ratio of 18.15 and a beta of 1.06. North American Construction Group has a 1-year low of $12.07 and a 1-year high of $17.26. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 1.80. The firm has a fifty day simple moving average of $13.56 and a 200-day simple moving average of $14.44.

North American Construction Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Wednesday, June 3rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.3%. North American Construction Group’s payout ratio is currently 43.04%.

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.