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

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.39 and traded as high as $20.63. North American Construction Group shares last traded at $20.31, with a volume of 38,831 shares traded.

Analyst Ratings Changes

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

North American Construction Group Stock Performance

The firm has a 50 day moving average of $20.63 and a 200-day moving average of $19.39. The company has a market cap of $565.71 million, a P/E ratio of 14.10 and a beta of 1.46. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Wednesday, November 27th were issued a $0.089 dividend. 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 1.75%. The ex-dividend date of this dividend was Wednesday, November 27th. North American Construction Group’s payout ratio is presently 25.00%.

Hedge Funds Weigh In On North American Construction Group

A number of hedge funds and other institutional investors have recently modified their holdings of NOA. TD Asset Management Inc boosted its position in North American Construction Group by 2.4% during 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 purchasing an additional 571 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of North American Construction Group by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 228,740 shares of the oil and gas company’s stock valued at $4,411,000 after buying an additional 13,559 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of North American Construction Group by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 154,078 shares of the oil and gas company’s stock worth $2,971,000 after purchasing an additional 5,567 shares in the last quarter. Bank of Montreal Can boosted its position in shares of North American Construction Group by 3.3% in the 2nd quarter. Bank of Montreal Can now owns 1,869,122 shares of the oil and gas company’s stock worth $37,727,000 after purchasing an additional 59,046 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in North American Construction Group by 26.7% during the 2nd quarter. Marshall Wace LLP now owns 144,838 shares of the oil and gas company’s stock worth $2,792,000 after buying an additional 30,535 shares during the last quarter. 74.99% of the stock is currently owned by 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.