Bastion Asset Management Inc. Takes Position in North American Construction Group Ltd. $NOA

Bastion Asset Management Inc. purchased a new stake in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 589,794 shares of the oil and gas company’s stock, valued at approximately $8,475,000. North American Construction Group comprises approximately 4.7% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 5th largest position.

Other large investors have also modified their holdings of the company. Aegis Financial Corp acquired a new position in shares of North American Construction Group in the 3rd quarter valued at $11,965,000. NewGen Asset Management Ltd acquired a new position in shares of North American Construction Group in the 3rd quarter valued at $4,719,000. Intact Investment Management Inc. raised its holdings in shares of North American Construction Group by 368.0% in the 4th quarter. Intact Investment Management Inc. now owns 117,000 shares of the oil and gas company’s stock valued at $1,684,000 after buying an additional 92,000 shares during the period. CIBC Asset Management Inc raised its holdings in shares of North American Construction Group by 50.1% in the 3rd quarter. CIBC Asset Management Inc now owns 1,179,482 shares of the oil and gas company’s stock valued at $16,763,000 after buying an additional 393,679 shares during the period. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of North American Construction Group by 7.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 299,322 shares of the oil and gas company’s stock valued at $4,025,000 after buying an additional 19,894 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of North American Construction Group in a report on Tuesday. Zacks Research upgraded North American Construction Group from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Wall Street Zen downgraded North American Construction Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Roth Mkm restated a “buy” rating and set a $27.50 price target on shares of North American Construction Group in a report on Friday. Finally, BMO Capital Markets restated a “market perform” rating on shares of North American Construction Group in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.75.

North American Construction Group Price Performance

Shares of NYSE NOA opened at $14.76 on Wednesday. The stock’s 50-day moving average is $14.25 and its two-hundred day moving average is $14.66. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.11 and a quick ratio of 0.90. North American Construction Group Ltd. has a 1-year low of $12.07 and a 1-year high of $18.24. The company has a market cap of $419.37 million, a price-to-earnings ratio of 18.68 and a beta of 1.11.

North American Construction Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Wednesday, June 3rd will be issued a $0.12 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.3%. North American Construction Group’s dividend payout ratio is presently 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.