Bastion Asset Management Inc. Trims Stock Holdings in North American Construction Group Ltd. $NOA

Bastion Asset Management Inc. lowered its stake in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 32.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 401,076 shares of the oil and gas company’s stock after selling 188,718 shares during the quarter. North American Construction Group comprises about 1.7% of Bastion Asset Management Inc.’s portfolio, making the stock its 27th biggest holding. Bastion Asset Management Inc. owned about 1.41% of North American Construction Group worth $5,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. SkyView Investment Advisors LLC boosted its position in shares of North American Construction Group by 1.3% during the 4th quarter. SkyView Investment Advisors LLC now owns 73,616 shares of the oil and gas company’s stock worth $1,058,000 after purchasing an additional 955 shares during the period. TD Asset Management Inc boosted its position in shares of North American Construction Group by 3.5% during the fourth quarter. TD Asset Management Inc now owns 34,555 shares of the oil and gas company’s stock worth $498,000 after buying an additional 1,178 shares during the period. Boothbay Fund Management LLC grew its stake in shares of North American Construction Group by 16.3% in the third quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 2,339 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of North American Construction Group by 29.9% in the 4th quarter. Lazard Asset Management LLC now owns 16,170 shares of the oil and gas company’s stock valued at $232,000 after buying an additional 3,718 shares during the period. Finally, Geode Capital Management LLC lifted its stake in North American Construction Group by 51.4% during the 2nd quarter. Geode Capital Management LLC now owns 21,511 shares of the oil and gas company’s stock worth $344,000 after acquiring an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Analyst Upgrades and Downgrades

NOA has been the subject of several research reports. Zacks Research downgraded North American Construction Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. BMO Capital Markets restated a “market perform” rating on shares of North American Construction Group in a report on Thursday, May 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of North American Construction Group in a report on Tuesday, June 9th. ATB Cormark Capital Markets downgraded shares of North American Construction Group from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Roth Capital reaffirmed a “buy” rating and set a $27.50 price objective on shares of North American Construction Group in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.75.

North American Construction Group Trading Down 1.1%

Shares of NYSE:NOA opened at $13.26 on Friday. North American Construction Group Ltd. has a 52 week low of $12.07 and a 52 week high of $17.26. The company’s 50 day moving average is $13.87 and its two-hundred day moving average is $14.57. The company has a market cap of $369.55 million, a PE ratio of 16.78 and a beta of 1.06. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 1.80.

North American Construction Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. North American Construction Group’s dividend payout ratio is currently 44.30%.

About North American Construction Group

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.