K.J. Harrison & Partners Inc Trims Stake in North American Construction Group Ltd. $NOA

K.J. Harrison & Partners Inc cut its stake in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 43.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,500 shares of the oil and gas company’s stock after selling 39,642 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in North American Construction Group were worth $707,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. SkyView Investment Advisors LLC increased its holdings in shares of North American Construction Group by 1.3% during the 4th quarter. SkyView Investment Advisors LLC now owns 73,616 shares of the oil and gas company’s stock valued at $1,058,000 after purchasing an additional 955 shares in the last quarter. TD Asset Management Inc boosted its holdings in North American Construction Group by 3.5% during the fourth quarter. TD Asset Management Inc now owns 34,555 shares of the oil and gas company’s stock worth $498,000 after buying an additional 1,178 shares in the last quarter. Boothbay Fund Management LLC boosted its holdings in North American Construction Group by 16.3% during the third quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company’s stock worth $237,000 after buying an additional 2,339 shares in the last quarter. Lazard Asset Management LLC grew its position in North American Construction Group by 29.9% during the fourth quarter. Lazard Asset Management LLC now owns 16,170 shares of the oil and gas company’s stock valued at $232,000 after buying an additional 3,718 shares during the period. Finally, Geode Capital Management LLC grew its position in 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 valued at $344,000 after buying an additional 7,300 shares during the period. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NOA. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of North American Construction Group in a research note on Tuesday, May 19th. ATB Cormark Capital Markets downgraded North American Construction Group from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Roth Mkm restated a “buy” rating and issued a $27.50 price objective on shares of North American Construction Group in a research report on Friday, May 15th. Wall Street Zen lowered North American Construction Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Zacks Research cut shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, North American Construction Group has a consensus rating of “Hold” and an average price target of $25.75.

North American Construction Group Stock Down 0.0%

NOA opened at $12.90 on Monday. North American Construction Group Ltd. has a twelve month low of $12.07 and a twelve month high of $17.26. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average price of $14.06 and a 200 day moving average price of $14.59. The company has a market cap of $361.08 million, a PE ratio of 16.34 and a beta of 1.06.

North American Construction Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.7%. The ex-dividend date was Wednesday, June 3rd. North American Construction Group’s payout ratio is 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.