Cannell Capital LLC Makes New $10.42 Million Investment in North American Construction Group Ltd. $NOA

Cannell Capital LLC bought a new stake in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 783,691 shares of the oil and gas company’s stock, valued at approximately $10,423,090. North American Construction Group accounts for 0.0% of Cannell Capital LLC’s portfolio, making the stock its 3rd largest holding.

Other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of North American Construction Group during the 1st quarter valued at about $476,000. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 7,300 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of North American Construction Group during the second quarter valued at approximately $122,000. Bank of America Corp DE lifted its position in North American Construction Group by 80.7% during the second quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company’s stock valued at $5,214,000 after purchasing an additional 145,745 shares during the period. Finally, SkyView Investment Advisors LLC lifted 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 valued at $1,139,000 after purchasing an additional 2,040 shares during the period. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NOA shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a research report on Thursday, August 13th. Zacks Research raised North American Construction Group from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Weiss Ratings restated a “hold (c-)” rating on shares of North American Construction Group in a research note on Tuesday, June 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, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of North American Construction Group in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.75.

North American Construction Group Stock Down 3.2%

NYSE NOA opened at $13.11 on Friday. The stock’s 50-day moving average price is $13.66 and its 200-day moving average price is $14.29. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 2.15. North American Construction Group Ltd. has a 52 week low of $12.07 and a 52 week high of $17.26. The company has a market capitalization of $365.51 million, a P/E ratio of 16.60 and a beta of 1.06.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings data 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. The company had revenue of $321.22 million during the quarter, compared to the consensus estimate of $246.65 million. North American Construction Group had a return on equity of 6.23% and a net margin of 2.41%. On average, equities research analysts predict that North American Construction Group Ltd. will post 0.96 earnings per share for the current year.

North American Construction Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, August 28th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.48 annualized dividend and a yield of 3.7%. North American Construction Group’s payout ratio is currently 44.30%.

North American Construction Group Company 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.