Connor Clark & Lunn Investment Management Ltd. raised its position in shares of North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 31.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 427,153 shares of the oil and gas company's stock after purchasing an additional 101,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.54% of North American Construction Group worth $9,194,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of North American Construction Group during the 4th quarter valued at about $269,000. Pacific Global Investment Management Co. grew its position in North American Construction Group by 5.3% during the fourth quarter. Pacific Global Investment Management Co. now owns 68,223 shares of the oil and gas company's stock valued at $1,474,000 after acquiring an additional 3,404 shares during the last quarter. Alberta Investment Management Corp raised its stake in shares of North American Construction Group by 7.2% during the fourth quarter. Alberta Investment Management Corp now owns 1,057,254 shares of the oil and gas company's stock worth $22,774,000 after acquiring an additional 71,454 shares in the last quarter. Tranquility Partners LLC lifted its holdings 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 worth $323,000 after acquiring an additional 1,538 shares during the last quarter. Finally, Stephens Inc. AR bought a new stake in shares of North American Construction Group in the 4th quarter worth approximately $204,000. Institutional investors own 74.99% of the company's stock.
North American Construction Group Trading Up 2.8 %
NOA traded up $0.47 during trading on Wednesday, hitting $17.42. 111,040 shares of the stock traded hands, compared to its average volume of 63,665. The firm has a market capitalization of $483.87 million, a P/E ratio of 12.10 and a beta of 1.42. The firm has a 50-day moving average of $18.70 and a 200 day moving average of $19.23. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.13 and a quick ratio of 0.88. North American Construction Group Ltd. has a 12-month low of $15.62 and a 12-month high of $23.75.
North American Construction Group Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Thursday, March 13th will be issued a dividend of $0.084 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.34 dividend on an annualized basis and a yield of 1.93%. North American Construction Group's dividend payout ratio is presently 22.92%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on NOA shares. Raymond James upgraded shares of North American Construction Group from a "moderate buy" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. Cibc World Mkts raised North American Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, December 5th. Finally, CIBC upgraded North American Construction Group from a "neutral" rating to a "sector outperform" rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy".
View Our Latest Stock Report on North American Construction Group
About North American Construction Group
(
Free Report)
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.
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