North American Construction Group Ltd. (NYSE:NOA) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 15.9% in the second quarter, HoldingsChannel reports. The firm owned 412,700 shares of the oil and gas company’s stock after selling 78,000 shares during the period. Renaissance Technologies LLC’s holdings in North American Construction Group were worth $7,957,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Cannell Capital LLC increased its stake in shares of North American Construction Group by 7.2% during the 4th quarter. Cannell Capital LLC now owns 1,478,914 shares of the oil and gas company’s stock worth $30,835,000 after purchasing an additional 98,926 shares in the last quarter. CIBC Asset Management Inc increased its stake 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 worth $22,249,000 after purchasing an additional 140,562 shares in the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of 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 purchasing an additional 293,070 shares in the last quarter. National Bank of Canada FI increased its stake in shares of North American Construction Group by 47.9% during 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 purchasing an additional 225,445 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of North American Construction Group by 1.3% during the 1st quarter. Quadrature Capital Ltd now owns 354,621 shares of the oil and gas company’s stock worth $7,867,000 after purchasing an additional 4,500 shares in the last quarter. 74.99% of the stock is owned by hedge funds and other institutional investors.

North American Construction Group Stock Up 2.1 %

NOA stock opened at $19.25 on Wednesday. The stock has a market capitalization of $514.69 million, a P/E ratio of 14.58 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.80 and a current ratio of 1.03. North American Construction Group Ltd. has a one year low of $17.16 and a one year high of $25.92. The company has a 50 day moving average price of $18.81 and a two-hundred day moving average price of $20.25.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its earnings results on Wednesday, July 31st. The oil and gas company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $201.95 million for the quarter, compared to analyst estimates of $230.03 million. North American Construction Group had a net margin of 4.97% and a return on equity of 21.72%. As a group, sell-side analysts expect that North American Construction Group Ltd. will post 2.95 EPS for the current year.

North American Construction Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, August 30th will be issued a dividend of $0.073 per share. This is a positive change from North American Construction Group’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, August 30th. This represents a $0.29 annualized dividend and a dividend yield of 1.52%. North American Construction Group’s payout ratio is presently 21.97%.

Analyst Ratings Changes

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

North American Construction Group Profile

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.