Prelude Capital Management LLC Has $3.10 Million Stake in North American Construction Group Ltd. (NYSE:NOA)

Prelude Capital Management LLC raised its stake in shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) by 5.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 185,803 shares of the oil and gas company’s stock after purchasing an additional 10,064 shares during the period. Prelude Capital Management LLC owned approximately 0.70% of North American Construction Group worth $3,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Macquarie Group Ltd. purchased a new position in shares of North American Construction Group in the 1st quarter worth approximately $80,000. SkyView Investment Advisors LLC purchased a new position in shares of North American Construction Group in the 1st quarter worth approximately $245,000. New York State Common Retirement Fund purchased a new position in shares of North American Construction Group in the 1st quarter worth approximately $60,000. KB Financial Partners LLC purchased a new position in shares of North American Construction Group in the 1st quarter worth approximately $225,000. Finally, HBK Sorce Advisory LLC purchased a new position in shares of North American Construction Group in the 1st quarter worth approximately $672,000. Hedge funds and other institutional investors own 61.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NOA shares. TD Securities upgraded North American Construction Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. StockNews.com started coverage on North American Construction Group in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Canaccord Genuity Group upped their price objective on North American Construction Group from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, July 28th.

North American Construction Group Stock Performance

NOA stock traded down $0.81 during midday trading on Wednesday, reaching $22.96. 37,696 shares of the company’s stock traded hands, compared to its average volume of 66,303. The company has a 50-day moving average price of $22.66 and a two-hundred day moving average price of $19.75. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 1.20. North American Construction Group Ltd. has a 52 week low of $9.20 and a 52 week high of $26.30. The firm has a market capitalization of $606.49 million, a PE ratio of 12.13 and a beta of 1.48.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its earnings results on Wednesday, July 26th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. North American Construction Group had a net margin of 9.34% and a return on equity of 26.68%. The business had revenue of $144.12 million for the quarter, compared to analysts’ expectations of $134.34 million. As a group, equities analysts anticipate that North American Construction Group Ltd. will post 1.81 EPS for the current year.

North American Construction Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Thursday, August 31st will be issued a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.30 annualized dividend and a dividend yield of 1.31%. This is a boost from North American Construction Group’s previous quarterly dividend of $0.07. North American Construction Group’s dividend payout ratio is presently 15.31%.

About North American Construction Group

North American Construction Group Ltd. provides equipment maintenance, and mining and heavy construction services in Canada, the United States, and Australia. Its Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and reclamation services; and Equipment Maintenance services.