Renaissance Group LLC Trims Holdings in North American Construction Group Ltd. (NYSE:NOA)

Renaissance Group LLC reduced its stake in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,879 shares of the oil and gas company’s stock after selling 4,362 shares during the quarter. Renaissance Group LLC owned approximately 0.41% of North American Construction Group worth $2,483,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NOA. Russell Investments Group Ltd. boosted its position in North American Construction Group by 284.3% in the 4th quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company’s stock valued at $171,000 after buying an additional 5,884 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of North American Construction Group in the third quarter valued at approximately $185,000. Stephens Inc. AR bought a new position in North American Construction Group in the fourth quarter worth approximately $204,000. Geode Capital Management LLC increased its holdings in North American Construction Group by 14.9% during the 3rd quarter. Geode Capital Management LLC now owns 14,138 shares of the oil and gas company’s stock worth $264,000 after purchasing an additional 1,838 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in North American Construction Group during the 4th quarter valued at $269,000. 74.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James raised North American Construction Group from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, North American Construction Group currently has a consensus rating of “Buy”.

North American Construction Group Stock Down 3.1 %

Shares of NYSE NOA opened at $13.50 on Wednesday. North American Construction Group Ltd. has a 12-month low of $13.02 and a 12-month high of $22.66. The stock’s fifty day simple moving average is $17.18 and its two-hundred day simple moving average is $18.90. The stock has a market capitalization of $414.39 million, a PE ratio of 9.37 and a beta of 1.16. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 1.85.

North American Construction Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Thursday, March 13th will be issued a $0.084 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.34 dividend on an annualized basis and a yield of 2.49%. North American Construction Group’s dividend payout ratio is presently 28.70%.

About North American Construction Group

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment – Canada, Heavy Equipment – Australia, and Other segments.