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

Canaccord Genuity Group 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 Friday morning, MarketBeat.com reports.

A number of other research firms have also recently issued reports on NOA. Wall Street Zen upgraded North American Construction Group from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Raymond James Financial cut North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

North American Construction Group Price Performance

NYSE NOA traded down $0.70 during trading on Friday, reaching $16.01. The company's stock had a trading volume of 201,126 shares, compared to its average volume of 68,937. The stock has a market capitalization of $483.66 million, a PE ratio of 15.85 and a beta of 1.24. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.92 and a quick ratio of 0.74. The firm has a fifty day moving average of $16.92 and a 200 day moving average of $17.48. North American Construction Group has a one year low of $13.19 and a one year high of $22.08.

North American Construction Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Wednesday, June 4th will be issued a $0.086 dividend. This is a boost from North American Construction Group's previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Wednesday, June 4th. North American Construction Group's dividend payout ratio is presently 34.65%.

Institutional Investors Weigh In On North American Construction Group

Several institutional investors have recently bought and sold shares of NOA. Russell Investments Group Ltd. boosted its holdings in North American Construction Group by 284.3% during the 4th quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company's stock valued at $171,000 after acquiring an additional 5,884 shares during the period. Tranquility Partners LLC boosted its holdings in North American Construction Group by 4.4% during the 1st quarter. Tranquility Partners LLC now owns 15,584 shares of the oil and gas company's stock valued at $246,000 after acquiring an additional 658 shares during the period. Proficio Capital Partners LLC purchased a new stake in North American Construction Group during the 4th quarter valued at about $269,000. D. E. Shaw & Co. Inc. purchased a new stake in North American Construction Group during the 4th quarter valued at about $295,000. Finally, Northwest & Ethical Investments L.P. boosted its holdings in North American Construction Group by 122.0% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 14,612 shares of the oil and gas company's stock valued at $314,000 after acquiring an additional 8,029 shares during the period. 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.