North American Construction Group Ltd. (NYSE:NOA) Stock Position Increased by Millennium Management LLC

Millennium Management LLC lifted its position in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 240.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 225,336 shares of the oil and gas company’s stock after buying an additional 159,142 shares during the period. Millennium Management LLC owned approximately 0.84% of North American Construction Group worth $4,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its stake in shares of North American Construction Group by 686.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,428 shares of the oil and gas company’s stock worth $387,000 after buying an additional 15,213 shares in the last quarter. TD Asset Management Inc raised its position in shares of North American Construction Group by 2.4% during the second quarter. TD Asset Management Inc now owns 24,688 shares of the oil and gas company’s stock worth $476,000 after purchasing an additional 571 shares during the period. SkyView Investment Advisors LLC acquired a new stake in shares of North American Construction Group during the first quarter worth $742,000. Swiss National Bank raised its position in shares of North American Construction Group by 4.4% during the first quarter. Swiss National Bank now owns 49,900 shares of the oil and gas company’s stock worth $1,109,000 after purchasing an additional 2,100 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of North American Construction Group by 2.8% during the first quarter. Janney Montgomery Scott LLC now owns 79,212 shares of the oil and gas company’s stock worth $1,765,000 after purchasing an additional 2,180 shares during the period. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Stock Performance

Shares of NOA stock opened at $18.94 on Friday. The company has a market capitalization of $506.27 million, a price-to-earnings ratio of 13.63 and a beta of 1.49. North American Construction Group Ltd. has a 1-year low of $17.16 and a 1-year high of $25.92. The company has a current ratio of 1.03, a quick ratio of 0.80 and a debt-to-equity ratio of 1.82. The stock’s fifty day simple moving average is $18.64 and its 200-day simple moving average is $19.85.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly 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 firm had revenue of $201.95 million for the quarter, compared to analyst estimates of $230.03 million. North American Construction Group had a return on equity of 21.72% and a net margin of 4.97%. On average, sell-side analysts predict that North American Construction Group Ltd. will post 2.7 earnings per share for the current fiscal year.

North American Construction Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, August 30th were given a $0.073 dividend. This is a positive change from North American Construction Group’s previous quarterly dividend of $0.07. This represents a $0.29 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, August 30th. North American Construction Group’s dividend payout ratio is presently 20.86%.

Analyst Ratings Changes

Separately, StockNews.com lowered North American Construction Group from a “buy” rating to a “hold” rating in a research report 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.