StockNews.com Lowers North American Construction Group (NYSE:NOA) to Hold

StockNews.com downgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a research report report published on Saturday morning.

Separately, TD Cowen upgraded shares of North American Construction Group from a hold rating to a buy rating in a report on Thursday, April 18th.

North American Construction Group Trading Up 0.8 %

Shares of NOA opened at $17.95 on Friday. The stock has a market capitalization of $479.93 million, a P/E ratio of 13.60 and a beta of 1.50. North American Construction Group has a twelve month low of $17.16 and a twelve month high of $25.92. The company has a quick ratio of 0.81, a current ratio of 1.03 and a debt-to-equity ratio of 1.82. The firm has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $21.57.

North American Construction Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, August 30th will be given a dividend of $0.073 per share. This is an increase from North American Construction Group’s previous quarterly dividend of $0.07. This represents a $0.29 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Friday, August 30th. North American Construction Group’s payout ratio is presently 21.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NOA. Mackenzie Financial Corp increased its position in North American Construction Group by 1.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,395,919 shares of the oil and gas company’s stock valued at $29,143,000 after purchasing an additional 14,109 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in North American Construction Group by 34.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,326 shares of the oil and gas company’s stock valued at $133,000 after purchasing an additional 1,615 shares during the period. Acuitas Investments LLC boosted its holdings in shares of North American Construction Group by 26.4% during the 4th quarter. Acuitas Investments LLC now owns 86,098 shares of the oil and gas company’s stock valued at $1,795,000 after buying an additional 17,977 shares in the last quarter. K.J. Harrison & Partners Inc boosted its holdings in shares of North American Construction Group by 27.8% during the 4th quarter. K.J. Harrison & Partners Inc now owns 126,500 shares of the oil and gas company’s stock valued at $2,645,000 after buying an additional 27,500 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in shares of North American Construction Group during the 4th quarter valued at $3,915,000. 74.99% of the stock is owned by hedge funds and other institutional investors.

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.