NewGen Asset Management Ltd Sells 215,209 Shares of North American Construction Group Ltd. $NOA

NewGen Asset Management Ltd reduced its holdings in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 71.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,699 shares of the oil and gas company’s stock after selling 215,209 shares during the quarter. North American Construction Group makes up about 0.8% of NewGen Asset Management Ltd’s holdings, making the stock its 20th largest position. NewGen Asset Management Ltd owned about 0.31% of North American Construction Group worth $1,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NOA. Aegis Financial Corp purchased a new position in North American Construction Group in the third quarter worth $11,965,000. Bastion Asset Management Inc. purchased a new position in North American Construction Group in the fourth quarter worth $8,475,000. Bank of Montreal Can boosted its position in North American Construction Group by 20.5% in the third quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company’s stock worth $38,409,000 after purchasing an additional 459,755 shares during the last quarter. CIBC Asset Management Inc boosted its position in 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 worth $20,812,000 after purchasing an additional 262,673 shares during the last quarter. Finally, CenterBook Partners LP purchased a new position in North American Construction Group in the fourth quarter worth $3,022,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

North American Construction Group Stock Up 1.5%

Shares of NYSE NOA opened at $13.72 on Tuesday. North American Construction Group Ltd. has a one year low of $12.07 and a one year high of $18.05. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.11 and a quick ratio of 0.90. The business’s fifty day moving average price is $14.26 and its 200-day moving average price is $14.65. The stock has a market capitalization of $383.75 million, a PE ratio of 17.36 and a beta of 1.07.

North American Construction Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. North American Construction Group’s dividend payout ratio is currently 44.30%.

Analyst Upgrades and Downgrades

NOA has been the topic of several research analyst reports. ATB Cormark Capital Markets cut North American Construction Group from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Zacks Research cut North American Construction Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of North American Construction Group in a research report on Tuesday, June 9th. Wall Street Zen cut North American Construction Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Roth Mkm reiterated a “buy” rating and issued a $27.50 price objective on shares of North American Construction Group in a research note on Friday, May 15th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.75.

North American Construction Group 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.