Connor Clark & Lunn Investment Management Ltd. Invests $8.03 Million in North American Construction Group Ltd. $NOA

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 604,396 shares of the oil and gas company’s stock, valued at approximately $8,029,000. Connor Clark & Lunn Investment Management Ltd. owned 2.17% of North American Construction Group at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in North American Construction Group in the 2nd quarter valued at about $122,000. Highlander Partners L.P. acquired a new stake in shares of North American Construction Group during the fourth quarter worth about $132,000. Qube Research & Technologies Ltd acquired a new stake in shares of North American Construction Group during the third quarter worth about $153,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of North American Construction Group in the fourth quarter valued at approximately $165,000. Finally, Lazard Asset Management LLC boosted its stake in shares of North American Construction Group by 1,424.1% in the third quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock valued at $177,000 after purchasing an additional 11,635 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NOA. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of North American Construction Group in a research note on Thursday, July 9th. Roth Capital reissued a “buy” rating and issued a $27.50 price target on shares of North American Construction Group in a research report on Friday, May 15th. Zacks Research upgraded shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Weiss Ratings restated a “hold (c-)” rating on shares of North American Construction Group in a research note on Tuesday, June 9th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.75.

North American Construction Group Stock Performance

NYSE:NOA opened at $13.33 on Thursday. North American Construction Group Ltd. has a 12 month low of $12.07 and a 12 month high of $17.26. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.07 and a quick ratio of 0.90. The firm has a market capitalization of $371.64 million, a PE ratio of 16.87 and a beta of 1.06. The business’s fifty day moving average price is $13.67 and its 200 day moving average price is $14.32.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. North American Construction Group had a return on equity of 6.23% and a net margin of 2.41%.The company had revenue of $321.22 million during the quarter, compared to the consensus estimate of $246.65 million. On average, sell-side analysts anticipate that North American Construction Group Ltd. will post 0.96 earnings per share for the current fiscal year.

North American Construction Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, August 28th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 28th. This represents a $0.48 annualized dividend and a yield of 3.6%. North American Construction Group’s payout ratio is presently 44.30%.

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.