Mackenzie Financial Corp Increases Holdings in North American Construction Group Ltd. (NYSE:NOA)

Mackenzie Financial Corp grew its holdings in North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 3.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 899,609 shares of the oil and gas company’s stock after acquiring an additional 34,086 shares during the period. Mackenzie Financial Corp’s holdings in North American Construction Group were worth $14,184,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Tranquility Partners LLC lifted its position in shares of North American Construction Group by 4.4% in the first quarter. Tranquility Partners LLC now owns 15,584 shares of the oil and gas company’s stock valued at $246,000 after acquiring an additional 658 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of North American Construction Group by 2.3% in the fourth quarter. Hsbc Holdings PLC now owns 39,965 shares of the oil and gas company’s stock worth $862,000 after purchasing an additional 898 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of North American Construction Group by 4.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,850 shares of the oil and gas company’s stock worth $451,000 after purchasing an additional 974 shares during the last quarter. Pacific Global Investment Management Co. increased its holdings in shares of North American Construction Group by 1.5% in the first quarter. Pacific Global Investment Management Co. now owns 69,269 shares of the oil and gas company’s stock worth $1,094,000 after purchasing an additional 1,046 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of North American Construction Group by 2.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 55,263 shares of the oil and gas company’s stock worth $1,194,000 after purchasing an additional 1,085 shares during the last quarter. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

North American Construction Group Trading Down 2.4%

Shares of NYSE NOA opened at $15.25 on Thursday. The business’s 50 day moving average is $16.69 and its two-hundred day moving average is $16.96. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.92 and a quick ratio of 0.74. North American Construction Group Ltd. has a 1-year low of $13.19 and a 1-year high of $22.08. The stock has a market capitalization of $460.70 million, a P/E ratio of 15.10 and a beta of 1.24.

North American Construction Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.086 per share. This is a boost from North American Construction Group’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 2.25%. The ex-dividend date was Wednesday, June 4th. North American Construction Group’s payout ratio is presently 34.65%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NOA shares. Wall Street Zen raised North American Construction Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 21st. Canaccord Genuity Group cut North American Construction Group from a “buy” rating to a “hold” rating in a report on Friday, July 11th. Finally, Raymond James Financial cut North American Construction Group from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.