Short Interest in North American Construction Group Ltd. (NYSE:NOA) Grows By 79.1%

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 359,248 shares, an increase of 79.1% from the April 15th total of 200,569 shares. Based on an average daily volume of 126,652 shares, the short-interest ratio is presently 2.8 days. Currently, 1.4% of the company’s stock are short sold.

North American Construction Group Price Performance

Shares of NYSE:NOA opened at $14.76 on Wednesday. The business has a 50 day moving average price of $14.25 and a 200 day moving average price of $14.66. North American Construction Group has a twelve month low of $12.07 and a twelve month high of $18.24. The company has a market cap of $419.37 million, a price-to-earnings ratio of 18.68 and a beta of 1.11. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 1.80.

North American Construction Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $0.48 annualized dividend and a yield of 3.3%. North American Construction Group’s dividend payout ratio is presently 44.30%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NOA. Wall Street Zen lowered North American Construction Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Canaccord Genuity Group raised shares of North American Construction Group from a “hold” rating to a “buy” rating in a research report on Friday, March 13th. ATB Cormark Capital Markets cut shares of North American Construction Group from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 28th. BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a report on Thursday, May 14th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of North American Construction Group in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.75.

Institutional Trading of North American Construction Group

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in North American Construction Group during the 2nd quarter valued at approximately $122,000. Highlander Partners L.P. bought a new stake in shares of North American Construction Group in the 4th quarter worth approximately $132,000. Qube Research & Technologies Ltd bought a new stake in shares of North American Construction Group in the 3rd quarter worth approximately $153,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of North American Construction Group in the 4th quarter worth approximately $165,000. Finally, Lazard Asset Management LLC lifted its position in shares of North American Construction Group by 1,424.1% in the 3rd quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock worth $177,000 after acquiring an additional 11,635 shares during the period. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Company 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.