Short Interest in North American Construction Group Ltd. (NYSE:NOA) Drops By 55.1%

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 194,043 shares, a decrease of 55.1% from the May 31st total of 432,115 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average trading volume of 170,817 shares, the days-to-cover ratio is presently 1.1 days.

North American Construction Group Stock Down 0.1%

NOA stock opened at $13.57 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 1.80. The firm has a 50 day simple moving average of $14.14 and a 200-day simple moving average of $14.61. The company has a market capitalization of $379.83 million, a P/E ratio of 17.18 and a beta of 1.07. North American Construction Group has a twelve month low of $12.07 and a twelve month high of $17.26.

North American Construction Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, June 3rd. North American Construction Group’s dividend payout ratio is 44.30%.

Institutional Investors Weigh In On North American Construction Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of North American Construction Group in the 2nd quarter valued at about $122,000. Highlander Partners L.P. bought a new position in shares of North American Construction Group during the fourth quarter worth about $132,000. Qube Research & Technologies Ltd bought a new position in shares of North American Construction Group during the third quarter worth about $153,000. Dynamic Technology Lab Private Ltd acquired a new position in North American Construction Group in the fourth quarter worth about $165,000. Finally, Lazard Asset Management LLC grew its stake in North American Construction Group by 1,424.1% in the third quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock worth $177,000 after purchasing an additional 11,635 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.

Analysts Set New Price Targets

NOA has been the topic of a number of analyst reports. Zacks Research lowered shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of North American Construction Group in a report on Tuesday, May 19th. Wall Street Zen cut shares of North American Construction Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Roth Mkm reaffirmed a “buy” rating and set a $27.50 target price on shares of North American Construction Group in a research report on Friday, May 15th. Finally, Canaccord Genuity Group upgraded North American Construction Group from a “hold” rating to a “buy” rating in a research note on Friday, March 13th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, North American Construction Group currently has an average rating of “Hold” and a consensus price target 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.