Intact Investment Management Inc. Sells 45,300 Shares of North American Construction Group Ltd. (NYSE:NOA)

Intact Investment Management Inc. cut its stake in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 21.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 168,000 shares of the oil and gas company’s stock after selling 45,300 shares during the period. Intact Investment Management Inc.’s holdings in North American Construction Group were worth $3,142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. AYAL Capital Advisors Ltd bought a new stake in shares of North American Construction Group during the second quarter valued at approximately $7,375,000. Hillsdale Investment Management Inc. lifted its stake in shares of North American Construction Group by 53.6% during the 1st quarter. Hillsdale Investment Management Inc. now owns 839,759 shares of the oil and gas company’s stock valued at $18,681,000 after buying an additional 293,070 shares in the last quarter. National Bank of Canada FI lifted its stake in North American Construction Group by 47.9% in the 2nd quarter. National Bank of Canada FI now owns 696,224 shares of the oil and gas company’s stock worth $13,275,000 after purchasing an additional 225,445 shares in the last quarter. Millennium Management LLC lifted its stake in North American Construction Group by 240.4% in the 2nd quarter. Millennium Management LLC now owns 225,336 shares of the oil and gas company’s stock worth $4,344,000 after purchasing an additional 159,142 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of North American Construction Group by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 1,154,556 shares of the oil and gas company’s stock valued at $22,249,000 after buying an additional 140,562 shares in the last quarter. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of North American Construction Group from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd.

North American Construction Group Trading Up 2.7 %

NYSE:NOA opened at $20.18 on Tuesday. North American Construction Group Ltd. has a 52 week low of $16.46 and a 52 week high of $25.92. The firm has a 50 day moving average of $18.44 and a 200 day moving average of $19.35. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $541.43 million, a price-to-earnings ratio of 14.01 and a beta of 1.48.

North American Construction Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, November 27th will be issued a $0.089 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from North American Construction Group’s previous quarterly dividend of $0.07. North American Construction Group’s dividend payout ratio (DPR) is currently 20.14%.

North American Construction Group Profile

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.