Orchard Capital Management LLC Takes $3.01 Million Position in North American Construction Group Ltd. $NOA

Orchard Capital Management LLC purchased a new stake in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 226,537 shares of the oil and gas company’s stock, valued at approximately $3,013,000. North American Construction Group accounts for approximately 2.9% of Orchard Capital Management LLC’s holdings, making the stock its 12th largest holding.

A number of other large investors have also recently made changes to their positions in NOA. Raymond James Financial Inc. bought a new position in shares of North American Construction Group during the second quarter valued at approximately $122,000. Highlander Partners L.P. purchased a new stake in North American Construction Group in the fourth quarter worth $132,000. Qube Research & Technologies Ltd bought a new stake in North American Construction Group in the third quarter valued at $153,000. Dynamic Technology Lab Private Ltd bought a new stake in North American Construction Group in the fourth quarter valued at $165,000. Finally, Lazard Asset Management LLC increased its position in North American Construction Group by 1,424.1% during the 3rd quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock valued at $177,000 after purchasing an additional 11,635 shares during the period. 74.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOA has been the subject of several research reports. Roth Capital restated a “buy” rating and issued a $27.50 price objective on shares of North American Construction Group in a report on Friday, May 15th. BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a research note 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 report on Monday, August 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of North American Construction Group in a research report on Tuesday, June 9th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of North American Construction Group in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, North American Construction Group has an average rating of “Hold” and a consensus price target of $25.75.

North American Construction Group Price Performance

NOA opened at $14.01 on Friday. The stock has a fifty day simple moving average of $13.68 and a two-hundred day simple moving average of $14.36. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 2.15. The company 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 12-month low of $12.07 and a 12-month high of $17.26.

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

North American Construction Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, August 28th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 28th. North American Construction Group’s dividend payout ratio (DPR) 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.