North American Construction Group (NYSE:NOA) Downgraded by TD Securities to Hold

Key Points

• North American Construction Group was downgraded by TD Securities from a "buy" rating to a "hold" rating, following a trend where several analysts have recently adjusted their ratings on the stock.
• The company reported earnings of $0.24 per share for the last quarter, missing expectations of $0.66, although its revenue was slightly above consensus estimates.
• Institutional investors own approximately 74.99% of North American Construction Group's stock, with notable increases in stakes from various public investment managers recently.

TD Securities cut shares of North American Construction Group (NYSE:NOA - Free Report) TSE: NOA from a buy rating to a hold rating in a research report report published on Thursday morning, Marketbeat reports.

A number of other equities analysts have also commented on NOA. Wall Street Zen upgraded shares of North American Construction Group from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Canaccord Genuity Group lowered shares of North American Construction Group from a "buy" rating to a "hold" rating in a report on Friday, July 11th. Finally, Raymond James Financial lowered shares of North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, North American Construction Group has an average rating of "Hold".

North American Construction Group Stock Down 1.9%

Shares of NYSE:NOA traded down $0.2350 during midday trading on Thursday, hitting $12.2650. 175,110 shares of the company's stock traded hands, compared to its average volume of 86,908. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.75 and a current ratio of 0.94. The company has a market cap of $370.16 million, a PE ratio of 14.10 and a beta of 1.26. The firm's fifty day moving average price is $16.02 and its two-hundred day moving average price is $16.41. North American Construction Group has a twelve month low of $12.12 and a twelve month high of $22.08.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last posted its earnings results on Wednesday, August 13th. The oil and gas company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.42). The business had revenue of $235.51 million for the quarter, compared to analyst estimates of $231.51 million. North American Construction Group had a net margin of 2.82% and a return on equity of 17.15%. On average, equities research analysts anticipate that North American Construction Group will post 2.56 EPS for the current fiscal year.

North American Construction Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, August 29th will be given a dividend of $0.0872 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from North American Construction Group's previous quarterly dividend of $0.09. North American Construction Group's payout ratio is currently 40.23%.

Institutional Investors Weigh In On North American Construction Group

A number of institutional investors have recently modified their holdings of NOA. Raymond James Financial Inc. bought a new position in North American Construction Group in the 2nd quarter worth about $122,000. Public Employees Retirement System of Ohio grew its position in North American Construction Group by 16.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,307 shares of the oil and gas company's stock worth $165,000 after purchasing an additional 1,474 shares during the last quarter. Russell Investments Group Ltd. grew its position in North American Construction Group by 284.3% in the 4th quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company's stock worth $171,000 after purchasing an additional 5,884 shares during the last quarter. Quadrature Capital Ltd bought a new position in North American Construction Group in the 2nd quarter worth about $182,000. Finally, Tranquility Partners LLC grew its position in North American Construction Group by 4.4% in the 1st quarter. Tranquility Partners LLC now owns 15,584 shares of the oil and gas company's stock worth $246,000 after purchasing an additional 658 shares during the last quarter. Institutional investors own 74.99% of the company's stock.

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.