North American Construction Group (NYSE:NOA) Shares Down 4.2%

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) traded down 4.2% during mid-day trading on Friday . The company traded as low as $19.26 and last traded at $19.26. 27,925 shares changed hands during trading, a decline of 55% from the average session volume of 62,417 shares. The stock had previously closed at $20.10.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. StockNews.com lowered shares of North American Construction Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. TD Cowen upgraded shares of North American Construction Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th.

North American Construction Group Stock Performance

The company has a quick ratio of 0.81, a current ratio of 1.04 and a debt-to-equity ratio of 1.79. The company has a market cap of $512.87 million, a PE ratio of 14.58 and a beta of 1.48. The stock’s 50 day simple moving average is $20.66 and its two-hundred day simple moving average is $21.92.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). North American Construction Group had a net margin of 5.21% and a return on equity of 19.48%. The business had revenue of $220.33 million during the quarter, compared to analysts’ expectations of $217.28 million. During the same period in the prior year, the business posted $0.71 EPS. As a group, research analysts anticipate that North American Construction Group Ltd. will post 2.99 earnings per share for the current year.

North American Construction Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.0726 per share. This represents a $0.29 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, May 31st. North American Construction Group’s dividend payout ratio is currently 21.97%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NOA. Hillsdale Investment Management Inc. grew its holdings in North American Construction Group by 53.6% during the 1st quarter. Hillsdale Investment Management Inc. now owns 839,759 shares of the oil and gas company’s stock worth $18,681,000 after acquiring an additional 293,070 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of North American Construction Group by 101.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,500 shares of the oil and gas company’s stock valued at $11,819,000 after buying an additional 274,600 shares during the period. Quadrature Capital Ltd boosted its holdings in shares of North American Construction Group by 325.9% in the 3rd quarter. Quadrature Capital Ltd now owns 299,400 shares of the oil and gas company’s stock valued at $6,551,000 after buying an additional 229,100 shares during the period. NewGen Asset Management Ltd acquired a new position in shares of North American Construction Group in the 4th quarter valued at about $4,170,000. Finally, Intact Investment Management Inc. acquired a new position in shares of North American Construction Group in the 4th quarter valued at about $3,915,000. 74.99% of the stock is owned by institutional investors and hedge funds.

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.