North American Construction Group (NYSE:NOA) Upgraded to Buy at TD Cowen

TD Cowen upgraded shares of North American Construction Group (NYSE:NOA - Free Report) TSE: NOA from a hold rating to a buy rating in a report issued on Thursday morning, MarketBeat reports.

Separately, StockNews.com raised shares of North American Construction Group from a hold rating to a buy rating in a research report on Monday, March 11th.

North American Construction Group Trading Down 0.7 %

Shares of North American Construction Group stock traded down $0.14 on Thursday, hitting $20.65. The stock had a trading volume of 67,897 shares, compared to its average volume of 66,018. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 1.71. North American Construction Group has a one year low of $17.90 and a one year high of $26.30. The stock has a market cap of $552.18 million, a price-to-earnings ratio of 13.24 and a beta of 1.53. The stock's 50-day simple moving average is $23.45 and its two-hundred day simple moving average is $21.93.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last issued its earnings results on Wednesday, March 13th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. North American Construction Group had a net margin of 6.60% and a return on equity of 22.18%. The firm had revenue of $239.70 million for the quarter, compared to analysts' expectations of $229.31 million. As a group, sell-side analysts predict that North American Construction Group will post 2.84 EPS for the current year.

North American Construction Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 8th were given a $0.074 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from North American Construction Group's previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.43%. North American Construction Group's dividend payout ratio is currently 18.59%.

Institutional Trading of North American Construction Group

A number of hedge funds and other institutional investors have recently modified their holdings of NOA. JPMorgan Chase & Co. grew its position in shares of North American Construction Group by 114.5% in the 1st quarter. JPMorgan Chase & Co. now owns 2,831 shares of the oil and gas company's stock worth $41,000 after buying an additional 1,511 shares during the period. Acadian Asset Management LLC grew its position in shares of North American Construction Group by 528.1% in the 1st quarter. Acadian Asset Management LLC now owns 36,298 shares of the oil and gas company's stock worth $520,000 after buying an additional 30,519 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of North American Construction Group in the 1st quarter worth about $1,003,000. Cibc World Market Inc. grew its position in shares of North American Construction Group by 3.3% in the 1st quarter. Cibc World Market Inc. now owns 343,195 shares of the oil and gas company's stock worth $4,956,000 after buying an additional 10,905 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of North American Construction Group by 6.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 122,940 shares of the oil and gas company's stock worth $1,775,000 after buying an additional 7,455 shares during the period. 74.99% of the stock is owned by hedge funds and other 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.