North American Construction Group Ltd. $NOA reported second-quarter 2026 revenue of $282.2 million, up 19.8% from a year earlier, as the company continued to grow its top line. Gross profit rose 16.0% to $30.6 million, reflecting solid demand even as costs increased significantly.
Profitability came under some pressure during the quarter. Operating profit fell 13.7% to $14.5 million, while net income attributable to common shareholders slipped 12.4% to $6.6 million. Diluted earnings per share came in at $0.24, down 27.3% from the prior-year period.
Cash generation improved meaningfully. Cash from operating activities increased 34.6% to $64.0 million, while cash and cash equivalents more than doubled to $118.0 million. The company also continued to invest in its fleet and equipment, with purchases of property, plant and equipment totaling $65.5 million.
Balance sheet leverage also rose, with total liabilities reaching $1.24 billion, up 23.8% year over year. Shares moved higher after the release, gaining 7.9% since the market close.
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
North American Construction Group Ltd. Hedge Fund Activity
We have seen 43 institutional investors add shares of North American Construction Group Ltd. stock to their portfolio, and 39 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BANK OF MONTREAL /CAN/ removed 1,470,906 shares (-50.9%) from their portfolio in Q2 2026, for an estimated $19,563,049
- ALBERTA INVESTMENT MANAGEMENT CORP removed 422,493 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $5,619,156
- SIMCOE CAPITAL LLC added 393,867 shares (+inf%) to their portfolio in Q2 2026, for an estimated $5,238,431
- MILLENNIUM MANAGEMENT LLC removed 318,611 shares (-94.0%) from their portfolio in Q1 2026, for an estimated $4,294,876
- CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. added 226,240 shares (+62.6%) to their portfolio in Q1 2026, for an estimated $3,049,715
- POLAR ASSET MANAGEMENT PARTNERS INC. removed 217,336 shares (-41.2%) from their portfolio in Q1 2026, for an estimated $2,929,689
- BASTION ASSET MANAGEMENT INC. removed 187,760 shares (-46.8%) from their portfolio in Q2 2026, for an estimated $2,497,208
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
North American Construction Group Ltd. Price Targets
Multiple analysts have issued price targets for $NOA recently. We have seen 2 analysts offer price targets for $NOA in the last 6 months, with a median target of $23.75.
Here are some recent targets:
- Chris Thompson from CIBC set a target price of $23.0 on 05/19/2026
- Yuri Lynk from Canaccord Genuity set a target price of $24.5 on 05/19/2026
