Hillsdale Investment Management Inc. Invests in North American Construction Group Ltd.

Hillsdale Investment Management Inc. has recently made a significant investment in North American Construction Group Ltd. (NYSE:NOA - Free Report) (TSE:NOA). According to their latest filing with the Securities and Exchange Commission (SEC), the firm acquired 377,827 shares of the oil and gas company's stock during the fourth quarter. This purchase is valued at approximately $8,134,000, giving Hillsdale Investment Management a 1.36% ownership in North American Construction Group according to their most recent SEC report.

In addition to Hillsdale, several other institutional investors have also been active in the stock. For instance, Bank of Montreal Can increased its holdings in North American Construction Group by 15.3% during the third quarter, bringing its total number of shares to 2,154,347, valued at $40,519,000 after buying an additional 285,225 shares. Similarly, PDT Partners LLC raised its stake by 45.6%, now holding 17,155 shares valued at $321,000 following a recent purchase.

Other notable movements include Polar Asset Management Partners Inc., which increased its holdings by 59.8%, and National Bank of Canada FI, which grew its stake by 69.1%. The latter now holds 1,177,109 shares valued at $22,012,000 after acquiring 480,885 more shares. Public Employees Retirement System of Ohio also entered the scene, acquiring a new stake valued around $185,000 in North American Construction Group. As of now, institutional investors and hedge funds collectively own approximately 74.99% of the company’s stock.

Analyst Ratings Overview

Analysts have responded positively to North American Construction Group's stock. For instance, Cibc World Markets upgraded its rating from "hold" to "strong-buy" on December 5th. Additionally, CIBC raised its rating from "neutral" to "sector outperform" on the same date. Raymond James also joined the bullish sentiment by upgrading the stock from a "moderate buy" to a "strong-buy" rating in a report dated January 21st. Currently, the consensus rating for North American Construction Group is classified as "Buy."

North American Construction Group Stock Performance

As of Friday, shares of North American Construction Group were trading at $16.11. The company boasts a market capitalization of $447.40 million with a price-to-earnings (PE) ratio of 11.18 and a beta of 1.42. The stock’s 50-day simple moving average stands at $18.48, while the 200-day simple moving average is $19.17. Over the past year, the stock has fluctuated between a low of $15.09 and a high of $23.71. Currently, it shows a debt-to-equity ratio of 1.85 with a current ratio of 1.13 and a quick ratio of 0.88.

Dividend Announcement

Recently, North American Construction Group declared a quarterly dividend, scheduled to be paid on April 9th. Shareholders on record as of March 13th will receive a dividend of $0.084 per share. The ex-dividend date is also March 13th, leading to an annualized dividend yield of 2.09%. The company has a dividend payout ratio (DPR) of 28.70%, indicating a stable dividend policy.

Company Overview

North American Construction Group Ltd. provides a variety of mining and heavy civil construction services across Australia, Canada, and the United States. The company operates through various segments including Heavy Equipment - Canada, Heavy Equipment - Australia, and Other services.

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