North American Construction Group (NYSE:NOA) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA)’s share price crossed 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.

Analysts Set New Price Targets

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

North American Construction Group Price Performance

The firm 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 market cap of $564.05 million, a P/E ratio of 14.08 and a beta of 1.49. 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 announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.089 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.36 annualized dividend and a dividend yield of 1.76%. This is an increase from North American Construction Group’s previous quarterly dividend of $0.07. North American Construction Group’s dividend payout ratio is currently 24.31%.

Institutional Investors Weigh In On North American Construction Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. TD Asset Management Inc boosted its stake in 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 buying an additional 571 shares during the period. SkyView Investment Advisors LLC raised its holdings in shares of North American Construction Group by 1.8% in 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 acquiring an additional 1,049 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of North American Construction Group by 14.9% during the 3rd quarter. Geode Capital Management LLC now owns 14,138 shares of the oil and gas company’s stock valued at $264,000 after acquiring an additional 1,838 shares during the last quarter. PDT Partners LLC grew its holdings in shares of North American Construction Group by 45.6% during the third 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 increased its position in shares of North American Construction Group by 3.7% in the second 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 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.