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

NewGen Asset Management Ltd lowered its stake in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 71.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,699 shares of the oil and gas company’s stock after selling 215,209 shares during the period. North American Construction Group accounts for approximately 0.8% of NewGen Asset Management Ltd’s portfolio, making the stock its 20th largest holding. NewGen Asset Management Ltd’s holdings in North American Construction Group were worth $1,263,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. TD Asset Management Inc lifted its position in shares of North American Construction Group by 3.5% during the fourth quarter. TD Asset Management Inc now owns 34,555 shares of the oil and gas company’s stock worth $498,000 after acquiring an additional 1,178 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of North American Construction Group by 3.0% during the second quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company’s stock worth $1,139,000 after acquiring an additional 2,040 shares in the last quarter. Boothbay Fund Management LLC lifted its position in shares of North American Construction Group by 16.3% during the third quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company’s stock worth $237,000 after acquiring an additional 2,339 shares in the last quarter. Orchard Capital Management LLC lifted its position in shares of North American Construction Group by 3.1% during the third quarter. Orchard Capital Management LLC now owns 152,138 shares of the oil and gas company’s stock worth $2,160,000 after acquiring an additional 4,511 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of North American Construction Group by 51.4% during the second quarter. Geode Capital Management LLC now owns 21,511 shares of the oil and gas company’s stock worth $344,000 after acquiring an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NOA shares. Wall Street Zen downgraded North American Construction Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings restated a “hold (c-)” rating on shares of North American Construction Group in a research report on Tuesday, June 9th. BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a report on Thursday, May 14th. Zacks Research lowered shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 9th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of North American Construction Group in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, North American Construction Group currently has a consensus rating of “Hold” and an average target price of $25.75.

North American Construction Group Price Performance

Shares of NYSE NOA opened at $13.72 on Tuesday. The firm has a market capitalization of $383.75 million, a P/E ratio of 17.36 and a beta of 1.07. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 1.80. The stock’s 50-day simple moving average is $14.26 and its two-hundred day simple moving average is $14.65. North American Construction Group Ltd. has a twelve month low of $12.07 and a twelve month high of $18.05.

North American Construction Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Wednesday, June 3rd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, June 3rd. North American Construction Group’s dividend payout ratio is currently 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.