Cannell Capital LLC Makes New $10.42 Million Investment in North American Construction Group Ltd. $NOA

Cannell Capital LLC acquired a new position in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) during the second quarter, according to its most recent filing with the SEC. The firm acquired 783,691 shares of the oil and gas company’s stock, valued at approximately $10,423,090. North American Construction Group comprises approximately 0.0% of Cannell Capital LLC’s holdings, making the stock its 3rd biggest holding. Cannell Capital LLC owned about 2.81% of North American Construction Group at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Bank of Montreal Can lifted its stake in North American Construction Group by 3.1% in the fourth quarter. Bank of Montreal Can now owns 2,789,384 shares of the oil and gas company’s stock worth $40,158,000 after acquiring an additional 84,992 shares during the period. CIBC Asset Management Inc boosted its holdings in North American Construction Group by 22.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company’s stock valued at $20,812,000 after acquiring an additional 262,673 shares in the last quarter. Aegis Financial Corp increased its position in North American Construction Group by 23.3% during the 4th quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company’s stock valued at $14,967,000 after purchasing an additional 196,243 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in North American Construction Group during the 2nd quarter valued at $8,029,000. Finally, Bastion Asset Management Inc. bought a new position in North American Construction Group in the 4th quarter worth $8,475,000. 74.99% of the stock is owned by hedge funds and other institutional investors.

North American Construction Group Stock Performance

Shares of NOA stock opened at $13.11 on Friday. The company has a market capitalization of $365.51 million, a price-to-earnings ratio of 16.60 and a beta of 1.06. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.90 and a current ratio of 1.07. North American Construction Group Ltd. has a one year low of $12.07 and a one year high of $17.26. The company’s 50-day moving average is $13.66 and its 200 day moving average is $14.29.

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

North American Construction Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, August 28th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.48 annualized dividend and a yield of 3.7%. North American Construction Group’s dividend payout ratio is 44.30%.

Analysts Set New Price Targets

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

About North American Construction Group

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.