Northwest & Ethical Investments L.P. Lowers Position in North American Construction Group Ltd. (NYSE:NOA)

Northwest & Ethical Investments L.P. decreased its holdings in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 46.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,583 shares of the oil and gas company’s stock after selling 5,600 shares during the period. Northwest & Ethical Investments L.P.’s holdings in North American Construction Group were worth $123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AYAL Capital Advisors Ltd purchased a new position in shares of North American Construction Group during the second quarter worth about $7,375,000. Bank of Montreal Can grew its stake in North American Construction Group by 15.3% in the 3rd quarter. Bank of Montreal Can now owns 2,154,347 shares of the oil and gas company’s stock worth $40,519,000 after buying an additional 285,225 shares in the last quarter. National Bank of Canada FI grew its stake in North American Construction Group by 47.9% in the 2nd quarter. National Bank of Canada FI now owns 696,224 shares of the oil and gas company’s stock worth $13,275,000 after buying an additional 225,445 shares in the last quarter. Millennium Management LLC increased its holdings in shares of North American Construction Group by 240.4% in the 2nd quarter. Millennium Management LLC now owns 225,336 shares of the oil and gas company’s stock worth $4,344,000 after buying an additional 159,142 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of North American Construction Group by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 1,154,556 shares of the oil and gas company’s stock valued at $22,249,000 after buying an additional 140,562 shares in the last quarter. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded North American Construction Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd.

North American Construction Group Stock Performance

NYSE:NOA opened at $20.28 on Friday. North American Construction Group Ltd. has a 1-year low of $16.46 and a 1-year high of $25.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.13 and a quick ratio of 0.88. The business has a 50 day moving average of $18.96 and a 200 day moving average of $19.25. The company has a market capitalization of $544.11 million, a price-to-earnings ratio of 14.08 and a beta of 1.48.

North American Construction Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, November 27th will be paid a $0.089 dividend. This is a boost from North American Construction Group’s previous quarterly dividend of $0.07. The ex-dividend date is Wednesday, November 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.76%. North American Construction Group’s dividend payout ratio is 24.31%.

About North American Construction Group

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment – Canada, Heavy Equipment – Australia, and Other segments.