North American Construction Group (NYSE:NOA) Shares Cross Above 200 Day Moving Average – Here’s What Happened

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.27 and traded as high as $20.70. North American Construction Group shares last traded at $20.43, with a volume of 43,356 shares traded.

Analysts Set New Price Targets

A number of research analysts have commented on NOA shares. CIBC upgraded shares of North American Construction Group from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, December 5th. Cibc World Mkts raised shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 5th.

North American Construction Group Stock Performance

The company has a market cap of $564.05 million, a P/E ratio of 14.08 and a beta of 1.49. The business has a 50 day moving average price of $19.51 and a two-hundred day moving average price of $19.28. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.88 and a current ratio of 1.13.

North American Construction Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.089 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, November 27th. This is a positive change from North American Construction Group’s previous quarterly dividend of $0.07. North American Construction Group’s dividend payout ratio is 24.31%.

Institutional Investors Weigh In On North American Construction Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. TD Asset Management Inc raised its holdings in shares of North American Construction Group by 2.4% during the second quarter. TD Asset Management Inc now owns 24,688 shares of the oil and gas company’s stock valued at $476,000 after acquiring an additional 571 shares in the last quarter. SkyView Investment Advisors LLC increased its position in North American Construction Group by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 59,371 shares of the oil and gas company’s stock valued at $1,110,000 after purchasing an additional 1,049 shares during the period. Geode Capital Management LLC raised its holdings in North American Construction Group by 14.9% in the 3rd quarter. Geode Capital Management LLC now owns 14,138 shares of the oil and gas company’s stock worth $264,000 after purchasing an additional 1,838 shares in the last quarter. PDT Partners LLC raised its holdings in North American Construction Group by 45.6% in the 3rd quarter. PDT Partners LLC now owns 17,155 shares of the oil and gas company’s stock worth $321,000 after purchasing an additional 5,371 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of North American Construction Group by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 154,078 shares of the oil and gas company’s stock worth $2,971,000 after purchasing an additional 5,567 shares during the period. 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.