North American Construction Group (NYSE:NOA) Rating Increased to Sector Outperform at CIBC

CIBC upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a neutral rating to a sector outperform rating in a report released on Thursday morning, MarketBeat.com reports.

North American Construction Group Stock Down 1.4 %

Shares of NYSE NOA opened at $20.74 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 1.85. North American Construction Group has a 52 week low of $16.46 and a 52 week high of $25.92. The firm has a 50-day moving average price of $19.13 and a 200 day moving average price of $19.25. The stock has a market capitalization of $577.19 million, a price-to-earnings ratio of 14.40 and a beta of 1.49.

North American Construction Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, November 27th will be issued a $0.089 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from North American Construction Group’s previous quarterly dividend of $0.07. North American Construction Group’s dividend payout ratio is 24.31%.

Institutional Trading of North American Construction Group

Several institutional investors and hedge funds have recently modified their holdings of NOA. Public Employees Retirement System of Ohio acquired a new position in shares of North American Construction Group in the third quarter valued at approximately $185,000. Geode Capital Management LLC raised its position in shares of North American Construction Group by 14.9% in the third quarter. Geode Capital Management LLC now owns 14,138 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 1,838 shares during the last quarter. PDT Partners LLC raised its position in shares of North American Construction Group by 45.6% in the third quarter. PDT Partners LLC now owns 17,155 shares of the oil and gas company’s stock valued at $321,000 after buying an additional 5,371 shares during the last quarter. Barclays PLC raised its position in shares of North American Construction Group by 48.1% in the third quarter. Barclays PLC now owns 20,867 shares of the oil and gas company’s stock valued at $390,000 after buying an additional 6,774 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of North American Construction Group by 2.4% in the second quarter. TD Asset Management Inc now owns 24,688 shares of the oil and gas company’s stock valued at $476,000 after buying an additional 571 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

North American Construction Group Company Profile

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.