JB Capital Partners LP Takes $931 Million Position in North American Construction Group Ltd. $NOA

JB Capital Partners LP bought a new stake in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 70,000 shares of the oil and gas company’s stock, valued at approximately $931,000,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOA. Bastion Asset Management Inc. acquired a new stake in North American Construction Group during the 4th quarter worth about $8,475,000. Bank of Montreal Can increased its holdings in shares of North American Construction Group by 20.5% in the third quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company’s stock valued at $38,409,000 after purchasing an additional 459,755 shares during the period. Millennium Management LLC purchased a new position in shares of North American Construction Group in the fourth quarter worth about $4,877,000. CIBC Asset Management Inc raised its stake in shares of North American Construction Group by 22.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company’s stock worth $20,812,000 after purchasing an additional 262,673 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of North American Construction Group during the fourth quarter worth about $3,022,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NOA shares. BMO Capital Markets reiterated a “market perform” rating on shares of North American Construction Group in a research report on Thursday, August 13th. Zacks Research upgraded shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of North American Construction Group in a research note on Thursday, July 9th. Roth Capital reaffirmed a “buy” rating and issued a $27.50 price objective on shares of North American Construction Group in a report on Friday, May 15th. Finally, ATB Cormark Capital Markets lowered shares of North American Construction Group from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.75.

North American Construction Group Stock Up 3.3%

North American Construction Group stock opened at $14.01 on Friday. The business’s 50-day moving average price is $13.68 and its 200 day moving average price is $14.36. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 2.15. The firm has a market cap of $390.60 million, a price-to-earnings ratio of 17.73 and a beta of 1.06. North American Construction Group Ltd. has a 52 week low of $12.07 and a 52 week high of $17.26.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. North American Construction Group had a return on equity of 6.23% and a net margin of 2.41%.The company had revenue of $321.22 million during the quarter, compared to the consensus estimate of $246.65 million. As a group, sell-side analysts anticipate that North American Construction Group Ltd. will post 1.6 earnings per share for the current year.

North American Construction Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, August 28th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 28th. North American Construction Group’s payout ratio is 44.30%.

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.