Polar Asset Management Partners Inc. Decreases Stake in North American Construction Group Ltd. $NOA

Polar Asset Management Partners Inc. cut its stake in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 44.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 921,721 shares of the oil and gas company’s stock after selling 745,615 shares during the quarter. Polar Asset Management Partners Inc. owned about 3.17% of North American Construction Group worth $13,095,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. TD Waterhouse Canada Inc. boosted its holdings in North American Construction Group by 0.4% during the third quarter. TD Waterhouse Canada Inc. now owns 279,428 shares of the oil and gas company’s stock worth $4,074,000 after buying an additional 1,153 shares in the last quarter. SkyView Investment Advisors LLC grew its position in North American Construction Group by 3.0% during the second quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company’s stock worth $1,139,000 after buying an additional 2,040 shares during the period. Boothbay Fund Management LLC increased its holdings in North American Construction Group by 16.3% in the third quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 2,339 shares in the last quarter. Swiss National Bank increased its holdings in North American Construction Group by 8.9% in the second quarter. Swiss National Bank now owns 51,300 shares of the oil and gas company’s stock valued at $818,000 after buying an additional 4,200 shares in the last quarter. Finally, Orchard Capital Management LLC lifted its position in shares of North American Construction Group by 3.1% during the 3rd quarter. Orchard Capital Management LLC now owns 152,138 shares of the oil and gas company’s stock valued at $2,160,000 after acquiring an additional 4,511 shares during the period. Hedge funds and other institutional investors own 74.99% of the company’s stock.

North American Construction Group Stock Up 2.4%

Shares of NYSE 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 company has a market capitalization of $384.73 million, a PE ratio of 16.86 and a beta of 1.09. 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 firm’s 50-day moving average is $15.60 and its two-hundred day moving average is $14.64.

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 paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.48 dividend on an annualized basis and a yield of 3.6%. North American Construction Group’s dividend payout ratio is presently 42.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NOA shares. Canaccord Genuity Group raised North American Construction Group from a “hold” rating to a “buy” rating in a research note on Friday, March 13th. Zacks Research downgraded North American Construction Group from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Loop Capital set a $24.00 price objective on North American Construction Group in a report on Friday, December 19th. ATB Cormark Capital Markets upgraded North American Construction Group from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 13th. Finally, BMO Capital Markets lowered North American Construction Group from an “outperform” rating to a “market perform” rating in a report on Thursday, March 12th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.50.

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.