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

VaselineSeptember 25, 2024

0 3 minutes read

Renaissance Technologies LLC lessened its holdings in shares of North American Construction Group Ltd. (NYSE:NOA – Free Report) (TSE:NOA) by 15.9% during 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 raised its stake in shares of North American Construction Group by 7.2% in 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 which bought an additional 98,926 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of North American Construction Group by 13.9% in the second 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. raised its stake in shares of North American Construction Group by 53.6% in the first 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 boosted its stake in North American Construction Group by 47.9% in the second 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 during the last quarter. Finally, Quadrature Capital Ltd raised its stake in shares of North American Construction Group by 1.3% in the 1st quarter. Quadrature Capital Ltd now owns 354,621 shares of the oil and gas company’s stock worth $7,867,000 after acquiring an additional 4,500 shares during the last quarter. 74.99% of shares are held by hedge funds and other institutional investors.

North American Construction Group stocks rose 2.1%

Shares of NOA stock opened at $19.25 on Wednesday. The stock has a market cap 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.

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North American Construction Group (NYSE:NOA – Get Your Free Report ) (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, topping 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 raises 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 30. This represents an annualized dividend of $0.29 and a dividend yield of 1.52%. North American Construction Group’s payout ratio is currently 21.97%.

Changes in Analyst Ratings

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

Read our latest research report on North American Construction Group

North American Construction Group Profile

(Free Report)

North American Construction Group Ltd. provides mining and heavy civil construction services to clients 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.