Bank of Montreal Can Raises Stock Position in North American Construction Group Ltd. (NYSE:NOA)

Bank of Montreal Can raised its stake in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 15.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,154,347 shares of the oil and gas company’s stock after purchasing an additional 285,225 shares during the quarter. Bank of Montreal Can owned approximately 0.08% of North American Construction Group worth $40,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its position in North American Construction Group by 11.9% during the 3rd quarter. CIBC Asset Management Inc now owns 1,291,883 shares of the oil and gas company’s stock valued at $24,167,000 after purchasing an additional 137,327 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of North American Construction Group by 3.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,232,145 shares of the oil and gas company’s stock valued at $23,762,000 after buying an additional 39,480 shares in the last quarter. National Bank of Canada FI boosted its holdings 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 valued at $13,275,000 after buying an additional 225,445 shares in the last quarter. AYAL Capital Advisors Ltd bought a new stake in shares of North American Construction Group during the 2nd quarter valued at $7,375,000. Finally, K.J. Harrison & Partners Inc boosted its holdings in shares of North American Construction Group by 9.3% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 234,700 shares of the oil and gas company’s stock valued at $4,524,000 after buying an additional 20,000 shares in the last quarter. 74.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

North American Construction Group Stock Performance

Shares of NOA stock opened at $19.52 on Friday. North American Construction Group Ltd. has a 12 month low of $16.46 and a 12 month high of $25.92. The stock has a market cap of $523.66 million, a PE ratio of 13.56 and a beta of 1.48. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 1.85. The company’s fifty day moving average price is $18.91 and its 200-day moving average price is $19.25.

North American Construction Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, November 27th will be paid a $0.089 dividend. This is a boost from North American Construction Group’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.36 dividend on an annualized basis and a yield of 1.82%. North American Construction Group’s payout ratio is presently 24.31%.

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.