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

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.37 and traded as high as $14.99. North American Construction Group shares last traded at $14.9330, with a volume of 85,382 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Loop Capital set a $24.00 price target on North American Construction Group in a research note on Friday, December 19th. Wall Street Zen upgraded shares of North American Construction Group from a “hold” rating to a “buy” rating in a report on Saturday, January 24th. Zacks Research upgraded shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of North American Construction Group in a research report on Wednesday, October 8th. Finally, ATB Capital reissued a “sector perform” rating on shares of North American Construction Group in a report on Friday, December 19th. Eight investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.00.

North American Construction Group Trading Up 0.9%

The stock’s fifty day simple moving average is $14.55 and its two-hundred day simple moving average is $14.37. The firm has a market cap of $433.21 million, a PE ratio of 15.89 and a beta of 1.15. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 1.59.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings results on Wednesday, November 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). North American Construction Group had a return on equity of 13.29% and a net margin of 3.02%.The company had revenue of $280.90 million during the quarter, compared to analysts’ expectations of $231.58 million. On average, sell-side analysts forecast that North American Construction Group Ltd. will post 2.56 EPS for the current fiscal year.

North American Construction Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.12 per share. This is an increase from North American Construction Group’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, November 26th. North American Construction Group’s dividend payout ratio is currently 36.17%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NOA. TD Waterhouse Canada Inc. boosted its stake in shares of North American Construction Group by 0.4% in the third quarter. TD Waterhouse Canada Inc. now owns 279,428 shares of the oil and gas company’s stock worth $4,074,000 after acquiring an additional 1,153 shares during the period. Public Employees Retirement System of Ohio boosted its stake in North American Construction Group by 16.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,307 shares of the oil and gas company’s stock worth $165,000 after purchasing an additional 1,474 shares during the period. SkyView Investment Advisors LLC grew its holdings in North American Construction Group by 3.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company’s stock valued at $1,139,000 after buying an additional 2,040 shares in the last quarter. Boothbay Fund Management LLC raised its position in shares of North American Construction Group by 16.3% during the third quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 2,339 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of North American Construction Group by 8.9% during the second quarter. Swiss National Bank now owns 51,300 shares of the oil and gas company’s stock valued at $818,000 after buying an additional 4,200 shares during the last quarter. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Company Profile

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.