North American Construction Group (NYSE:NOA) Upgraded at CIBC

CIBC upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a neutral rating to a sector outperform rating in a report released on Thursday, MarketBeat reports.

North American Construction Group Trading Down 1.4 %

Shares of North American Construction Group stock opened at $20.74 on Thursday. North American Construction Group has a 1 year low of $16.46 and a 1 year high of $25.92. 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 capitalization of $577.19 million, a P/E ratio of 14.40 and a beta of 1.49. The company’s fifty day moving average is $19.13 and its two-hundred day moving average is $19.25.

North American Construction Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, November 27th will be paid a $0.089 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, November 27th. This is a boost from North American Construction Group’s previous quarterly dividend of $0.07. North American Construction Group’s dividend payout ratio (DPR) is 24.31%.

Institutional Trading of North American Construction Group

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of North American Construction Group in the 3rd quarter worth $185,000. Geode Capital Management LLC lifted its stake in shares of North American Construction Group by 14.9% in the 3rd quarter. Geode Capital Management LLC now owns 14,138 shares of the oil and gas company’s stock worth $264,000 after acquiring an additional 1,838 shares during the period. PDT Partners LLC lifted its stake in shares of North American Construction Group by 45.6% in the 3rd quarter. PDT Partners LLC now owns 17,155 shares of the oil and gas company’s stock worth $321,000 after acquiring an additional 5,371 shares during the period. Barclays PLC lifted its stake in shares of North American Construction Group by 48.1% in the 3rd quarter. Barclays PLC now owns 20,867 shares of the oil and gas company’s stock worth $390,000 after acquiring an additional 6,774 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of North American Construction Group by 2.4% in the 2nd quarter. TD Asset Management Inc now owns 24,688 shares of the oil and gas company’s stock worth $476,000 after acquiring an additional 571 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

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.