North American Construction Group (NYSE:NOA) Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a sell rating to a hold rating in a report released on Wednesday.

Separately, Raymond James downgraded North American Construction Group from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, April 22nd.

North American Construction Group Stock Up 0.8%

NYSE NOA opened at $17.15 on Wednesday. The business has a fifty day moving average price of $15.69 and a 200 day moving average price of $18.27. North American Construction Group has a one year low of $13.19 and a one year high of $22.08. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.88 and a current ratio of 1.13. The company has a market cap of $524.71 million, a P/E ratio of 11.91 and a beta of 1.32.

North American Construction Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Wednesday, June 4th will be paid a $0.086 dividend. This is an increase from North American Construction Group’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, June 4th. North American Construction Group’s dividend payout ratio is currently 32.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NOA. Russell Investments Group Ltd. grew its holdings 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 valued at $171,000 after buying an additional 5,884 shares in the last quarter. Stephens Inc. AR purchased a new stake in North American Construction Group in the 4th quarter valued at $204,000. Proficio Capital Partners LLC purchased a new stake in North American Construction Group in the 4th quarter valued at $269,000. D. E. Shaw & Co. Inc. purchased a new stake in North American Construction Group in the 4th quarter valued at $295,000. Finally, Northwest & Ethical Investments L.P. grew its holdings in North American Construction Group by 122.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 14,612 shares of the oil and gas company’s stock valued at $314,000 after buying an additional 8,029 shares in the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.

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.