North American Construction Group (NYSE:NOA) Lowered to Hold Rating by Canaccord Genuity Group

Canaccord Genuity Group lowered shares of North American Construction Group (NYSE:NOA - Free Report) TSE: NOA from a buy rating to a hold rating in a research note published on Friday morning, MarketBeat reports.

NOA has been the topic of several other research reports. Wall Street Zen upgraded shares of North American Construction Group from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Raymond James Financial cut shares of North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

North American Construction Group Trading Down 2.8%

Shares of NOA stock traded down $0.45 during mid-day trading on Friday, reaching $15.53. The stock had a trading volume of 59,735 shares, compared to its average volume of 68,903. The stock's 50-day moving average price is $16.92 and its two-hundred day moving average price is $17.42. North American Construction Group has a 52-week low of $13.19 and a 52-week high of $22.08. The firm has a market capitalization of $469.22 million, a PE ratio of 15.38 and a beta of 1.24. The company has a current ratio of 0.92, a quick ratio of 0.74 and a debt-to-equity ratio of 1.44.

North American Construction Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Wednesday, June 4th were issued a $0.086 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, June 4th. This is a boost from North American Construction Group's previous quarterly dividend of $0.08. North American Construction Group's dividend payout ratio is 34.65%.

Institutional Investors Weigh In On North American Construction Group

A number of hedge funds and other institutional investors have recently bought and sold shares of NOA. Proficio Capital Partners LLC purchased a new stake in North American Construction Group in the fourth quarter worth about $269,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of North American Construction Group by 31.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 427,153 shares of the oil and gas company's stock valued at $9,194,000 after buying an additional 101,400 shares during the last quarter. Swiss National Bank grew its holdings in shares of North American Construction Group by 4.7% during the fourth quarter. Swiss National Bank now owns 49,500 shares of the oil and gas company's stock valued at $1,066,000 after buying an additional 2,200 shares during the last quarter. Intact Investment Management Inc. grew its holdings in shares of North American Construction Group by 5.6% during the fourth quarter. Intact Investment Management Inc. now owns 177,400 shares of the oil and gas company's stock valued at $3,823,000 after buying an additional 9,400 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of North American Construction Group by 122.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 14,612 shares of the oil and gas company's stock valued at $314,000 after buying an additional 8,029 shares during the last quarter. Hedge funds and other 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.