North American Construction Group (NYSE:NOA) Stock Price Passes Above 200-Day Moving Average – What’s Next?

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.39 and traded as high as $20.63. North American Construction Group shares last traded at $20.31, with a volume of 38,831 shares trading hands.

Wall Street Analyst Weigh In

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

North American Construction Group Stock Up 0.1 %

The stock has a market cap of $565.71 million, a price-to-earnings ratio of 14.10 and a beta of 1.46. The business’s 50 day moving average is $20.63 and its 200-day moving average is $19.39. 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 firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.089 per share. This represents a $0.36 annualized dividend and a yield of 1.75%. The ex-dividend date was Wednesday, November 27th. This is a boost from North American Construction Group’s previous quarterly dividend of $0.07. North American Construction Group’s payout ratio is 25.00%.

Hedge Funds Weigh In On North American Construction Group

A number of institutional investors have recently bought and sold shares of the company. Polar Asset Management Partners Inc. boosted its stake in shares of North American Construction Group by 59.8% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,709,868 shares of the oil and gas company’s stock valued at $31,981,000 after buying an additional 639,857 shares during the period. National Bank of Canada FI lifted its stake in North American Construction Group by 69.1% during the third quarter. National Bank of Canada FI now owns 1,177,109 shares of the oil and gas company’s stock worth $22,012,000 after purchasing an additional 480,885 shares during the last quarter. AYAL Capital Advisors Ltd acquired a new position in North American Construction Group in the second quarter valued at approximately $7,375,000. Bank of Montreal Can increased its stake in North American Construction Group by 15.3% in the third quarter. Bank of Montreal Can now owns 2,154,347 shares of the oil and gas company’s stock valued at $40,519,000 after purchasing an additional 285,225 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in North American Construction Group by 240.4% during the second quarter. Millennium Management LLC now owns 225,336 shares of the oil and gas company’s stock worth $4,344,000 after purchasing an additional 159,142 shares in the last quarter. 74.99% of the stock is owned by hedge funds and other 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.