North American Construction Group Ltd. (NYSE:NOA – Get Rating) (TSE:NOA) declared a quarterly dividend on Friday, April 29th, Wall Street Journal reports. Stockholders of record on Friday, May 27th will be given a dividend of 0.0623 per share by the oil and gas company on Friday, July 8th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, May 26th.
North American Construction Group has raised its dividend payment by an average of 27.7% per year over the last three years. North American Construction Group has a dividend payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect North American Construction Group to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.13 annual dividend with an expected future payout ratio of 6.9%.
NYSE NOA opened at $12.62 on Friday. The stock has a market cap of $378.22 million, a PE ratio of 11.07 and a beta of 1.43. The company has a current ratio of 0.91, a quick ratio of 0.64 and a debt-to-equity ratio of 1.21. North American Construction Group has a twelve month low of $12.42 and a twelve month high of $17.79. The stock has a fifty day simple moving average of $14.76 and a 200-day simple moving average of $15.00.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of North American Construction Group by 14.1% during the 4th quarter. Bank of America Corp DE now owns 5,661 shares of the oil and gas company’s stock worth $85,000 after acquiring an additional 701 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in North American Construction Group during the 4th quarter worth approximately $173,000. Marshall Wace LLP purchased a new position in North American Construction Group during the 4th quarter worth approximately $100,000. Millennium Management LLC grew its stake in North American Construction Group by 21.4% during the 3rd quarter. Millennium Management LLC now owns 39,687 shares of the oil and gas company’s stock worth $584,000 after buying an additional 7,003 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in North American Construction Group by 15.6% during the 3rd quarter. Royal Bank of Canada now owns 69,547 shares of the oil and gas company’s stock worth $1,024,000 after buying an additional 9,381 shares during the last quarter. 44.62% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. StockNews.com lowered North American Construction Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 4th. Zacks Investment Research raised North American Construction Group from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, April 20th. CIBC assumed coverage on North American Construction Group in a research note on Tuesday, January 25th. They set a “neutral” rating and a $22.00 target price on the stock. Finally, TheStreet raised North American Construction Group from a “c+” rating to a “b-” rating in a research note on Monday, March 7th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $24.61.
About North American Construction Group (Get Rating)
North American Construction Group Ltd. provides equipment maintenance, and mining and heavy construction services in Canada, the United States, and Australia. The company's Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and reclamation services.
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