North American Construction Group (NYSE:NOA) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.27 and traded as high as $20.70. North American Construction Group shares last traded at $20.43, with a volume of 43,356 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOA. Cibc World Mkts upgraded shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 5th. CIBC upgraded North American Construction Group from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, December 5th.

North American Construction Group Price Performance

The business’s fifty day moving average price is $19.46 and its 200 day moving average price is $19.27. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.13 and a quick ratio of 0.88. The stock has a market cap of $568.51 million, a P/E ratio of 14.19 and a beta of 1.49.

North American Construction Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.089 per share. 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. This represents a $0.36 annualized dividend and a dividend yield of 1.74%. North American Construction Group’s dividend payout ratio is 24.31%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NOA. K.J. Harrison & Partners Inc boosted its stake in shares of North American Construction Group by 9.3% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 234,700 shares of the oil and gas company’s stock valued at $4,524,000 after purchasing an additional 20,000 shares during the last quarter. Intact Investment Management Inc. grew its stake in shares of North American Construction Group by 23.7% during the 2nd quarter. Intact Investment Management Inc. now owns 213,300 shares of the oil and gas company’s stock worth $4,113,000 after acquiring an additional 40,900 shares during the period. CIBC Asset Management Inc raised its position in shares of North American Construction Group by 13.9% in the second quarter. CIBC Asset Management Inc now owns 1,154,556 shares of the oil and gas company’s stock valued at $22,249,000 after purchasing an additional 140,562 shares during the period. TD Asset Management Inc boosted its holdings 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 worth $476,000 after acquiring an additional 571 shares during the period. Finally, National Bank of Canada FI grew its holdings in North American Construction Group by 47.9% during the 2nd quarter. National Bank of Canada FI now owns 696,224 shares of the oil and gas company’s stock valued at $13,275,000 after buying an additional 225,445 shares in the last quarter. Institutional investors and hedge funds 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.