CIBC Asset Management Inc Buys 393,679 Shares of North American Construction Group Ltd. $NOA

CIBC Asset Management Inc boosted its position in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 50.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,179,482 shares of the oil and gas company’s stock after buying an additional 393,679 shares during the quarter. CIBC Asset Management Inc owned approximately 3.93% of North American Construction Group worth $16,763,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NOA. Raymond James Financial Inc. bought a new position in shares of North American Construction Group in the 2nd quarter worth $122,000. Public Employees Retirement System of Ohio increased its position in shares of North American Construction Group by 16.7% during the second quarter. Public Employees Retirement System of Ohio now owns 10,307 shares of the oil and gas company’s stock worth $165,000 after acquiring an additional 1,474 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of North American Construction Group in the 2nd quarter valued at about $182,000. Timelo Investment Management Inc. acquired a new stake in North American Construction Group in the 2nd quarter valued at approximately $247,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of North American Construction Group by 35.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,795 shares of the oil and gas company’s stock valued at $268,000 after purchasing an additional 4,390 shares during the last quarter. Institutional investors own 74.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Loop Capital set a $24.00 price objective on North American Construction Group in a research note on Friday, December 19th. Wall Street Zen raised shares of North American Construction Group from a “hold” rating to a “buy” rating in a research report on Saturday. ATB Capital reissued a “sector perform” rating on shares of North American Construction Group in a research report on Friday, December 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of North American Construction Group in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Eight analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.00.

North American Construction Group Stock Down 0.6%

North American Construction Group stock opened at $15.05 on Tuesday. The company has a market capitalization of $436.57 million, a PE ratio of 16.01 and a beta of 1.16. The firm’s fifty day moving average is $14.40 and its 200 day moving average is $14.39. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 1.59. North American Construction Group Ltd. has a 12-month low of $12.12 and a 12-month high of $20.29.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its earnings results on Wednesday, November 12th. The oil and gas company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). North American Construction Group had a net margin of 3.02% and a return on equity of 13.29%. The firm had revenue of $280.90 million during the quarter, compared to analyst estimates of $231.58 million. As a group, sell-side analysts predict that North American Construction Group Ltd. will post 2.56 EPS for the current fiscal year.

North American Construction Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.12 per share. This is an increase from North American Construction Group’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, November 26th. North American Construction Group’s dividend payout ratio is 36.17%.

North American Construction Group 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.