Lazard Asset Management LLC Purchases 41,954 Shares of North American Construction Group Ltd. $NOA

Lazard Asset Management LLC boosted its holdings in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 259.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 58,124 shares of the oil and gas company’s stock after buying an additional 41,954 shares during the period. Lazard Asset Management LLC owned 0.20% of North American Construction Group worth $784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of North American Construction Group in the first quarter valued at about $476,000. Geode Capital Management LLC grew its position in shares of North American Construction Group by 51.4% during the second quarter. Geode Capital Management LLC now owns 21,511 shares of the oil and gas company’s stock worth $344,000 after purchasing an additional 7,300 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of North American Construction Group during the second quarter worth about $122,000. Bank of America Corp DE raised its stake in North American Construction Group by 80.7% during the 2nd quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company’s stock valued at $5,214,000 after purchasing an additional 145,745 shares during the period. Finally, SkyView Investment Advisors LLC raised its stake in North American Construction Group by 3.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company’s stock valued at $1,139,000 after purchasing an additional 2,040 shares during the period. 74.99% of the stock is owned by institutional investors.

North American Construction Group Trading Up 6.1%

NOA stock opened at $14.34 on Thursday. The firm has a market cap of $399.83 million, a PE ratio of 18.15 and a beta of 1.06. The firm has a fifty day moving average price of $13.56 and a 200 day moving average price of $14.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.90 and a current ratio of 1.11. North American Construction Group Ltd. has a fifty-two week low of $12.07 and a fifty-two week high of $17.26.

North American Construction Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Wednesday, June 3rd were issued a $0.12 dividend. The ex-dividend date was 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 payout ratio is 44.30%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOA. Zacks Research downgraded North American Construction Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. BMO Capital Markets reiterated a “market perform” rating on shares of North American Construction Group in a research report on Thursday, May 14th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of North American Construction Group in a research report on Thursday, July 9th. ATB Cormark Capital Markets lowered shares of North American Construction Group from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of North American Construction Group in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.75.

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.