North American Construction Group (NYSE:NOA) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a moderate buy rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on NOA. Cibc World Mkts upgraded North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. CIBC upgraded shares of North American Construction Group from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy”.

North American Construction Group Stock Performance

Shares of NOA stock opened at $20.87 on Tuesday. North American Construction Group has a 52-week low of $16.46 and a 52-week high of $25.92. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 1.85. The stock has a market cap of $579.77 million, a PE ratio of 14.49 and a beta of 1.46. The business has a 50-day simple moving average of $20.64 and a 200-day simple moving average of $19.45.

North American Construction Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Wednesday, November 27th were given a dividend of $0.089 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.36 dividend on an annualized basis and a yield of 1.71%. 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 currently 25.69%.

Institutional Trading of North American Construction Group

Institutional investors and hedge funds have recently made changes to their positions in the business. SkyView Investment Advisors LLC raised its position in shares of North American Construction Group by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 59,371 shares of the oil and gas company’s stock worth $1,110,000 after purchasing an additional 1,049 shares during the last quarter. Barclays PLC increased its stake in North American Construction Group by 48.1% during the 3rd quarter. Barclays PLC now owns 20,867 shares of the oil and gas company’s stock worth $390,000 after buying an additional 6,774 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of North American Construction Group by 14.9% during 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 acquiring an additional 1,838 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of North American Construction Group in the third quarter valued at approximately $185,000. Finally, National Bank of Canada FI boosted its stake in shares of North American Construction Group by 69.1% in the third quarter. National Bank of Canada FI now owns 1,177,109 shares of the oil and gas company’s stock worth $22,012,000 after acquiring an additional 480,885 shares during the last quarter. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

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.