CIBC Asset Management Inc Purchases 393,679 Shares of North American Construction Group Ltd. $NOA

CIBC Asset Management Inc increased its holdings in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 50.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,179,482 shares of the oil and gas company’s stock after buying an additional 393,679 shares during the period. CIBC Asset Management Inc’s holdings in North American Construction Group were worth $16,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in NOA. Public Employees Retirement System of Ohio grew its position in shares of North American Construction Group by 16.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,307 shares of the oil and gas company’s stock valued at $165,000 after acquiring an additional 1,474 shares during the period. SkyView Investment Advisors LLC increased its holdings in North American Construction Group by 3.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company’s stock worth $1,139,000 after acquiring an additional 2,040 shares during the period. Swiss National Bank raised its position in shares of North American Construction Group by 8.9% in the second quarter. Swiss National Bank now owns 51,300 shares of the oil and gas company’s stock worth $818,000 after buying an additional 4,200 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of North American Construction Group by 35.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,795 shares of the oil and gas company’s stock valued at $268,000 after acquiring an additional 4,390 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in North American Construction Group by 25.9% in the second quarter. TD Asset Management Inc now owns 33,646 shares of the oil and gas company’s stock valued at $537,000 after purchasing an additional 6,919 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOA. Weiss Ratings restated a “hold (c)” rating on shares of North American Construction Group in a research report on Wednesday, October 8th. ATB Capital reissued a “sector perform” rating on shares of North American Construction Group in a research report on Friday, December 19th. Loop Capital set a $24.00 price objective on North American Construction Group in a report on Friday, December 19th. Zacks Research raised shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded North American Construction Group from a “hold” rating to a “buy” rating in a research report on Saturday. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, North American Construction Group presently has a consensus rating of “Hold” and a consensus target price of $24.00.

North American Construction Group Trading Down 0.6%

NYSE:NOA opened at $15.05 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.73 and a debt-to-equity ratio of 1.59. North American Construction Group Ltd. has a 12 month low of $12.12 and a 12 month high of $20.29. The company has a market cap of $436.57 million, a PE ratio of 16.01 and a beta of 1.16. The company has a 50 day simple moving average of $14.40 and a two-hundred day simple moving average of $14.39.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings data on Wednesday, November 12th. The oil and gas company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). North American Construction Group had a net margin of 3.02% and a return on equity of 13.29%. The firm had revenue of $280.90 million for the quarter, compared to analysts’ expectations of $231.58 million. Research analysts forecast that North American Construction Group Ltd. will post 2.56 earnings per share for the current year.

North American Construction Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, November 26th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.2%. This is a boost from North American Construction Group’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, November 26th. North American Construction Group’s dividend payout ratio (DPR) is presently 36.17%.

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.