North American Construction Group Ltd. (NYSE:NOA) Short Interest Update

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 359,248 shares, a growth of 79.1% from the April 15th total of 200,569 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 126,652 shares, the days-to-cover ratio is currently 2.8 days.

Analyst Upgrades and Downgrades

NOA has been the topic of a number of research reports. Zacks Research upgraded North American Construction Group from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Canaccord Genuity Group raised North American Construction Group from a “hold” rating to a “buy” rating in a report on Friday, March 13th. BMO Capital Markets reissued a “market perform” rating on shares of North American Construction Group in a report on Thursday. ATB Cormark Capital Markets lowered North American Construction Group from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $27.50 price target on shares of North American Construction Group in a research note on Friday. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.75.

Institutional Trading of North American Construction Group

A number of hedge funds have recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in shares of North American Construction Group by 3.1% in the fourth quarter. Bank of Montreal Can now owns 2,789,384 shares of the oil and gas company’s stock valued at $40,158,000 after purchasing an additional 84,992 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of North American Construction Group by 22.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company’s stock valued at $20,812,000 after purchasing an additional 262,673 shares during the last quarter. Aegis Financial Corp grew its position in shares of North American Construction Group by 23.3% in the fourth quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company’s stock valued at $14,967,000 after purchasing an additional 196,243 shares during the last quarter. Bastion Asset Management Inc. acquired a new stake in shares of North American Construction Group in the fourth quarter valued at about $8,475,000. Finally, Arrowstreet Capital Limited Partnership grew its position in North American Construction Group by 65.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company’s stock worth $5,430,000 after buying an additional 158,731 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

North American Construction Group Stock Performance

NOA opened at $15.50 on Tuesday. The firm has a market cap of $440.45 million, a PE ratio of 19.62 and a beta of 1.11. 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 business has a fifty day simple moving average of $14.28 and a 200-day simple moving average of $14.67. North American Construction Group has a fifty-two week low of $12.07 and a fifty-two week high of $18.24.

North American Construction Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.48 annualized dividend and a dividend yield of 3.1%. North American Construction Group’s dividend payout ratio (DPR) 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.