North American Construction Group (NYSE:NOA) Shares Gap Up to $20.79

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) gapped up before the market opened on Thursday . The stock had previously closed at $20.79, but opened at $21.37. North American Construction Group shares last traded at $21.37, with a volume of 7,620 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOA shares. StockNews.com upgraded North American Construction Group from a “hold” rating to a “buy” rating in a report on Monday, March 11th. TD Cowen upgraded North American Construction Group from a “hold” rating to a “buy” rating in a research note on Thursday.

North American Construction Group Stock Up 2.5 %

The stock’s fifty day simple moving average is $23.50 and its 200-day simple moving average is $21.93. The stock has a market cap of $569.83 million, a P/E ratio of 13.33 and a beta of 1.53. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.71 and a current ratio of 0.91.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings results 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. The business had revenue of $239.70 million during the quarter, compared to analysts’ expectations of $229.31 million. North American Construction Group had a return on equity of 22.18% and a net margin of 6.60%. As a group, research analysts forecast that North American Construction Group Ltd. will post 2.84 earnings per share for the current fiscal year.

North American Construction Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 8th were issued a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, March 7th. 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 18.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings 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 valued at $41,000 after purchasing an additional 1,511 shares in the last quarter. Acadian Asset Management LLC boosted its stake in North American Construction Group by 528.1% in the first quarter. Acadian Asset Management LLC now owns 36,298 shares of the oil and gas company’s stock valued at $520,000 after buying an additional 30,519 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in North American Construction Group in the first quarter valued at about $1,003,000. Cibc World Market Inc. grew its position in North American Construction Group by 3.3% in the first quarter. Cibc World Market Inc. now owns 343,195 shares of the oil and gas company’s stock valued at $4,956,000 after acquiring an additional 10,905 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in North American Construction Group by 6.5% during the first quarter. Dimensional Fund Advisors LP now owns 122,940 shares of the oil and gas company’s stock worth $1,775,000 after acquiring an additional 7,455 shares in the last quarter. 74.99% of the stock is owned by 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.