North American Construction Group (NYSE:NOA) Stock Passes Above 200 Day Moving Average - Here's Why

North American Construction Group Ltd. (NYSE:NOA - Get Free Report) TSE: NOA passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.31 and traded as high as $15.69. North American Construction Group shares last traded at $15.45, with a volume of 126,484 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NOA shares. Canaccord Genuity Group cut North American Construction Group from a "buy" rating to a "hold" rating in a report on Friday, July 11th. Atb Cap Markets cut North American Construction Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. TD Securities cut North American Construction Group from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Cibc World Mkts cut North American Construction Group from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, CIBC cut North American Construction Group to a "neutral" rating in a report on Friday, August 15th. Seven analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold".

North American Construction Group Price Performance

The company's 50-day simple moving average is $13.83 and its 200-day simple moving average is $15.31. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market capitalization of $452.57 million, a price-to-earnings ratio of 17.75 and a beta of 1.21.

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

North American Construction Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, August 29th were given a dividend of $0.0872 per share. This represents a $0.35 annualized dividend and a yield of 2.3%. This is a boost from North American Construction Group's previous quarterly dividend of $0.09. The ex-dividend date was Friday, August 29th. North American Construction Group's dividend payout ratio (DPR) is 40.23%.

Institutional Investors Weigh In On North American Construction Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can raised its position in shares of North American Construction Group by 4.6% in the second quarter. Bank of Montreal Can now owns 2,244,637 shares of the oil and gas company's stock valued at $35,941,000 after buying an additional 98,646 shares in the last quarter. Claret Asset Management Corp raised its position in shares of North American Construction Group by 0.7% in the second quarter. Claret Asset Management Corp now owns 2,064,325 shares of the oil and gas company's stock valued at $33,026,000 after buying an additional 14,686 shares in the last quarter. Polar Asset Management Partners Inc. raised its position in shares of North American Construction Group by 70.3% in the first quarter. Polar Asset Management Partners Inc. now owns 1,740,985 shares of the oil and gas company's stock valued at $27,577,000 after buying an additional 718,884 shares in the last quarter. National Bank of Canada FI raised its position in shares of North American Construction Group by 2.6% in the first quarter. National Bank of Canada FI now owns 1,368,520 shares of the oil and gas company's stock valued at $21,560,000 after buying an additional 34,720 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of North American Construction Group by 3.9% in the first quarter. Mackenzie Financial Corp now owns 899,609 shares of the oil and gas company's stock valued at $14,184,000 after buying an additional 34,086 shares in the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.

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