North American Construction Group (NYSE:NOA) Shares Gap Down – What’s Next?

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) gapped down before the market opened on Thursday . The stock had previously closed at $16.78, but opened at $15.60. North American Construction Group shares last traded at $17.15, with a volume of 38,736 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NOA. Raymond James cut shares of North American Construction Group from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, April 22nd. StockNews.com cut shares of North American Construction Group from a “hold” rating to a “sell” rating in a report on Tuesday.

North American Construction Group Trading Up 0.0%

The firm’s 50-day moving average price is $15.65 and its 200-day moving average price is $18.35. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 1.85. The company has a market cap of $527.95 million, a P/E ratio of 11.98 and a beta of 1.32.

North American Construction Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.086 per share. This represents a $0.34 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, June 4th. This is a positive change from North American Construction Group’s previous quarterly dividend of $0.08. North American Construction Group’s dividend payout ratio is 28.70%.

Institutional Trading of North American Construction Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in North American Construction Group by 284.3% in the 4th quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company’s stock worth $171,000 after buying an additional 5,884 shares in the last quarter. Stephens Inc. AR purchased a new position in North American Construction Group in the 4th quarter worth approximately $204,000. Tranquility Partners LLC grew its stake in North American Construction Group by 4.4% in the 1st quarter. Tranquility Partners LLC now owns 15,584 shares of the oil and gas company’s stock worth $246,000 after buying an additional 658 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in North American Construction Group in the 4th quarter worth approximately $269,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in North American Construction Group in the 4th quarter worth approximately $295,000. Institutional investors own 74.99% of the company’s stock.

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.