North American Construction Group Ltd (NYSE:NOA) Shares Sold by CLARET ASSET MANAGEMENT Corp

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CLARET ASSET MANAGEMENT Corp decreased its holdings in North American Construction Group Ltd (NYSE:NOA) (TSE:NOA) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,136,573 shares of the oil and gas company’s stock after selling 101,552 shares during the period. North American Construction Group makes up approximately 5.1% of CLARET ASSET MANAGEMENT Corp’s investment portfolio, making the stock its 2nd largest position. CLARET ASSET MANAGEMENT Corp owned about 7.83% of North American Construction Group worth $24,635,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NOA. Polar Asset Management Partners Inc. boosted its position in shares of North American Construction Group by 113.8% during the 2nd quarter. Polar Asset Management Partners Inc. now owns 1,337,818 shares of the oil and gas company’s stock worth $14,448,000 after purchasing an additional 712,015 shares during the period. JPMorgan Chase & Co. boosted its position in North American Construction Group by 264.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 187,189 shares of the oil and gas company’s stock valued at $1,999,000 after buying an additional 135,869 shares during the period. Marshall Wace LLP purchased a new position in North American Construction Group in the 2nd quarter valued at approximately $1,023,000. Intact Investment Management Inc. boosted its position in North American Construction Group by 38.5% in the 2nd quarter. Intact Investment Management Inc. now owns 310,967 shares of the oil and gas company’s stock valued at $4,372,000 after buying an additional 86,400 shares during the period. Finally, CIBC Asset Management Inc boosted its position in North American Construction Group by 22.1% in the 2nd quarter. CIBC Asset Management Inc now owns 311,162 shares of the oil and gas company’s stock valued at $3,353,000 after buying an additional 56,356 shares during the period. Institutional investors own 55.97% of the company’s stock.

Shares of NOA traded up $0.06 during midday trading on Friday, reaching $10.81. The stock had a trading volume of 4,470 shares, compared to its average volume of 107,310. The company’s fifty day simple moving average is $11.68 and its two-hundred day simple moving average is $11.49. North American Construction Group Ltd has a 1-year low of $7.82 and a 1-year high of $13.62. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.72. The company has a market cap of $294.24 million, a price-to-earnings ratio of 25.76 and a beta of 0.57.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $0.27 EPS for the quarter. North American Construction Group had a net margin of 4.33% and a return on equity of 18.75%. The firm had revenue of $132.28 million for the quarter. On average, sell-side analysts forecast that North American Construction Group Ltd will post 1.25 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Saturday, August 31st were paid a $0.015 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This is a positive change from North American Construction Group’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 0.56%. North American Construction Group’s payout ratio is currently 28.57%.

Several equities analysts have commented on NOA shares. ValuEngine cut shares of North American Construction Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of North American Construction Group from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $13.00.

North American Construction Group Profile

North American Construction Group Ltd. engages in providing mining and heavy construction services. It offers their services to customers in the resource development and industrial construction sectors, primarily within Western Canada. The company focuses on supporting the construction and operation of surface mines, in the oil sands.

See Also: What is the price-to-earnings growth (PEG) ratio?

Institutional Ownership by Quarter for North American Construction Group (NYSE:NOA)

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