Marshall Wace North America L.P. Reduces Holdings in North American Construction Group Ltd. (NYSE:NOA)

Marshall Wace North America L.P. trimmed its stake in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 46.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,268 shares of the oil and gas company’s stock after selling 25,574 shares during the period. Marshall Wace North America L.P. owned approximately 0.10% of North American Construction Group worth $448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOA. Citadel Advisors LLC purchased a new position in shares of North American Construction Group in the 1st quarter valued at $109,000. D. E. Shaw & Co. Inc. purchased a new position in shares of North American Construction Group in the 1st quarter valued at $134,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of North American Construction Group in the 2nd quarter valued at $170,000. Cubist Systematic Strategies LLC purchased a new position in shares of North American Construction Group in the 2nd quarter valued at $182,000. Finally, Acuitas Investments LLC grew its position in shares of North American Construction Group by 1,308.7% in the 2nd quarter. Acuitas Investments LLC now owns 3,366,104 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 3,127,147 shares during the last quarter. 43.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NOA opened at $14.90 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.02 and a debt-to-equity ratio of 1.42. North American Construction Group Ltd. has a 52 week low of $8.95 and a 52 week high of $17.79. The firm has a 50-day moving average price of $15.60 and a 200 day moving average price of $14.75. The stock has a market capitalization of $447.03 million, a price-to-earnings ratio of 12.84 and a beta of 1.51.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings data on Tuesday, October 26th. The oil and gas company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.12. North American Construction Group had a net margin of 7.51% and a return on equity of 20.60%. The firm had revenue of $131.81 million during the quarter, compared to analysts’ expectations of $129.20 million. During the same quarter last year, the business earned $0.20 earnings per share. Equities research analysts expect that North American Construction Group Ltd. will post 1.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 7th. Shareholders of record on Tuesday, November 30th will be given a dividend of $0.031 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Monday, November 29th. North American Construction Group’s payout ratio is currently 11.21%.

NOA has been the topic of several research reports. Maxim Group raised their price objective on shares of North American Construction Group from C$25.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. Canaccord Genuity raised their price objective on shares of North American Construction Group from C$25.00 to C$28.00 and gave the stock a “buy” rating in a research report on Thursday, October 21st. Zacks Investment Research downgraded shares of North American Construction Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Pi Financial reissued a “buy” rating and set a C$26.00 price objective on shares of North American Construction Group in a research report on Thursday, October 21st. Finally, Raymond James raised their price objective on shares of North American Construction Group from C$24.00 to C$26.50 and gave the stock an “outperform” rating in a research report on Thursday, October 28th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, North American Construction Group presently has an average rating of “Buy” and an average target price of $24.44.

North American Construction Group Profile

North American Construction Group Ltd. engages in providing mining and heavy construction services. It offers their services to customers in the resource development and industrial construction sectors, primarily within Western Canada. The company focuses on supporting the construction and operation of surface mines, in the oil sands.

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Institutional Ownership by Quarter for North American Construction Group (NYSE:NOA)

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