CIBC Asset Management Inc Sells 229,767 Shares of North American Construction Group Ltd. (NYSE:NOA)

CIBC Asset Management Inc lowered its stake in North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,062,116 shares of the oil and gas company's stock after selling 229,767 shares during the period. CIBC Asset Management Inc owned 3.82% of North American Construction Group worth $22,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new stake in shares of North American Construction Group during the 3rd quarter valued at about $185,000. Stephens Inc. AR bought a new stake in North American Construction Group during the 4th quarter valued at approximately $204,000. Geode Capital Management LLC grew its holdings in shares of North American Construction Group by 14.9% during the 3rd quarter. Geode Capital Management LLC now owns 14,138 shares of the oil and gas company's stock worth $264,000 after acquiring an additional 1,838 shares during the period. PDT Partners LLC raised its position in shares of North American Construction Group by 45.6% in the 3rd quarter. PDT Partners LLC now owns 17,155 shares of the oil and gas company's stock worth $321,000 after acquiring an additional 5,371 shares in the last quarter. Finally, Tranquility Partners LLC lifted its stake in shares of North American Construction Group by 11.5% in the 4th quarter. Tranquility Partners LLC now owns 14,926 shares of the oil and gas company's stock valued at $323,000 after purchasing an additional 1,538 shares during the period. 74.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NOA. Raymond James upgraded North American Construction Group from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, January 21st. CIBC raised shares of North American Construction Group from a "neutral" rating to a "sector outperform" rating in a research report on Thursday, December 5th. Finally, Cibc World Mkts upgraded shares of North American Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

North American Construction Group Stock Down 2.1 %

Shares of NYSE NOA traded down $0.39 during trading on Friday, reaching $18.48. The company had a trading volume of 47,765 shares, compared to its average volume of 55,802. North American Construction Group Ltd. has a 12-month low of $16.46 and a 12-month high of $25.92. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 1.85. The business's 50-day moving average is $20.18 and its 200 day moving average is $19.42. The stock has a market cap of $513.37 million, a PE ratio of 12.83 and a beta of 1.43.

North American Construction Group Profile

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment - Canada, Heavy Equipment - Australia, and Other segments.