North American Construction Group (NYSE:NOA) Upgraded to “Buy” by TD Cowen

TD Cowen upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat.com 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 Stock Down 0.7 %

Shares of NYSE:NOA opened at $20.65 on Thursday. 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 52-week low of $17.90 and a 52-week high of $26.30. The company has a 50 day moving average of $23.45 and a two-hundred day moving average of $21.93. The company has a market capitalization of $552.18 million, a price-to-earnings ratio of 13.24 and a beta of 1.53.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings data on Wednesday, March 13th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter, beating 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 company had revenue of $239.70 million during the quarter, compared to the consensus estimate of $229.31 million. As a group, analysts forecast that North American Construction Group will post 2.84 earnings per share for the current fiscal year.

North American Construction Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 8th were paid a dividend of $0.074 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from North American Construction Group’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 1.43%. North American Construction Group’s dividend payout ratio (DPR) is 18.59%.

Hedge Funds Weigh In On North American Construction Group

Several large investors have recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its stake in North American Construction Group by 3.0% during the fourth quarter. TD Asset Management Inc now owns 23,617 shares of the oil and gas company’s stock worth $495,000 after purchasing an additional 680 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in North American Construction Group by 2.6% during the third quarter. SkyView Investment Advisors LLC now owns 29,961 shares of the oil and gas company’s stock worth $651,000 after purchasing an additional 771 shares during the last quarter. UBS Group AG lifted its stake in North American Construction Group by 46.0% during the first quarter. UBS Group AG now owns 3,239 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 1,021 shares during the last quarter. Legal & General Group Plc lifted its stake in North American Construction Group by 6.4% during the fourth quarter. Legal & General Group Plc now owns 18,373 shares of the oil and gas company’s stock worth $385,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Shell Asset Management Co. lifted its stake in North American Construction Group by 142.3% during the third quarter. Shell Asset Management Co. now owns 1,929 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 1,133 shares during the last quarter. 74.99% of the stock is currently owned by 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.