CIBC Asset Management Inc Acquires 262,673 Shares of North American Construction Group Ltd. $NOA

CIBC Asset Management Inc grew its holdings in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 22.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,442,155 shares of the oil and gas company’s stock after buying an additional 262,673 shares during the period. CIBC Asset Management Inc owned 5.02% of North American Construction Group worth $20,812,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Aegis Financial Corp acquired a new stake in North American Construction Group during the 3rd quarter valued at $11,965,000. Intact Investment Management Inc. raised its position in shares of North American Construction Group by 368.0% in the fourth quarter. Intact Investment Management Inc. now owns 117,000 shares of the oil and gas company’s stock valued at $1,684,000 after purchasing an additional 92,000 shares during the period. NewGen Asset Management Ltd bought a new position in shares of North American Construction Group in the third quarter valued at about $4,719,000. Bastion Asset Management Inc. acquired a new stake in shares of North American Construction Group during the 4th quarter worth about $8,475,000. Finally, Orchard Capital Management LLC lifted its stake in shares of North American Construction Group by 3.1% during the 3rd quarter. Orchard Capital Management LLC now owns 152,138 shares of the oil and gas company’s stock worth $2,160,000 after buying an additional 4,511 shares during the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NOA shares. Zacks Research upgraded shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of North American Construction Group in a research report on Tuesday, May 19th. Wall Street Zen cut North American Construction Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a research report on Thursday, May 14th. Finally, Roth Mkm reiterated a “buy” rating and set a $27.50 target price 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 and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.75.

North American Construction Group Stock Performance

NYSE NOA opened at $14.18 on Friday. 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 company has a market capitalization of $384.14 million, a P/E ratio of 17.94 and a beta of 1.07. North American Construction Group Ltd. has a 12-month low of $12.07 and a 12-month high of $18.24. The firm has a 50-day moving average price of $14.24 and a two-hundred day moving average price of $14.65.

North American Construction Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Wednesday, June 3rd will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, June 3rd. North American Construction Group’s payout ratio is 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.