North American Construction Group Ltd. $NOA Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. reduced its stake in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 44.7% during the 3rd quarter, Holdings Channel reports. The fund owned 921,721 shares of the oil and gas company’s stock after selling 745,615 shares during the period. Polar Asset Management Partners Inc.’s holdings in North American Construction Group were worth $13,095,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Aegis Financial Corp purchased a new stake in North American Construction Group during the 3rd quarter worth about $11,965,000. TD Waterhouse Canada Inc. lifted its holdings in North American Construction Group by 106,111.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 278,275 shares of the oil and gas company’s stock valued at $4,463,000 after purchasing an additional 278,013 shares in the last quarter. NewGen Asset Management Ltd purchased a new position in North American Construction Group in the 3rd quarter valued at about $4,719,000. CIBC Asset Management Inc boosted its stake in shares of North American Construction Group by 50.1% during the 3rd quarter. CIBC Asset Management Inc now owns 1,179,482 shares of the oil and gas company’s stock worth $16,763,000 after purchasing an additional 393,679 shares during the last quarter. Finally, Intact Investment Management Inc. boosted its stake in shares of North American Construction Group by 31.2% during the 2nd quarter. Intact Investment Management Inc. now owns 233,600 shares of the oil and gas company’s stock worth $3,737,000 after purchasing an additional 55,600 shares during the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

North American Construction Group Stock Up 2.4%

NOA opened at $13.49 on Thursday. North American Construction Group Ltd. has a 12 month low of $12.07 and a 12 month high of $18.24. The business has a 50-day moving average of $15.60 and a two-hundred day moving average of $14.64. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.70. The stock has a market capitalization of $384.73 million, a price-to-earnings ratio of 16.86 and a beta of 1.09.

North American Construction Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. North American Construction Group’s dividend payout ratio (DPR) is currently 42.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOA. Loop Capital set a $24.00 price objective on shares of North American Construction Group in a research report on Friday, December 19th. Zacks Research lowered shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. BMO Capital Markets cut shares of North American Construction Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 12th. ATB Cormark Capital Markets raised shares of North American Construction Group from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 13th. Finally, Roth Mkm assumed coverage on North American Construction Group in a report on Thursday, February 5th. They issued a “buy” rating and a $25.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.50.

North American Construction Group Company Profile

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.