North American Construction Group (NYSE:NOA) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a research note released on Thursday.

Separately, TD Cowen raised North American Construction Group from a hold rating to a buy rating in a research report on Thursday, April 18th.

North American Construction Group Price Performance

Shares of NOA stock opened at $19.78 on Thursday. North American Construction Group has a 52-week low of $18.92 and a 52-week high of $26.30. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.81 and a current ratio of 1.04. The firm has a market capitalization of $528.92 million, a P/E ratio of 14.98 and a beta of 1.50. The stock has a 50 day moving average price of $19.96 and a 200 day moving average price of $21.74.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). North American Construction Group had a return on equity of 19.48% and a net margin of 5.21%. The business had revenue of $220.33 million for the quarter, compared to the consensus estimate of $217.28 million. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, sell-side analysts predict that North American Construction Group will post 2.95 earnings per share for the current year.

North American Construction Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, May 31st were given a dividend of $0.0726 per share. This represents a $0.29 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, May 31st. North American Construction Group’s dividend payout ratio (DPR) is presently 21.97%.

Institutional Investors Weigh In On North American Construction Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. K.J. Harrison & Partners Inc raised its position in North American Construction Group by 9.3% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 234,700 shares of the oil and gas company’s stock valued at $4,524,000 after purchasing an additional 20,000 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in shares of North American Construction Group in the 1st quarter valued at $742,000. Quadrature Capital Ltd increased its holdings in shares of North American Construction Group by 1.3% in the 1st quarter. Quadrature Capital Ltd now owns 354,621 shares of the oil and gas company’s stock valued at $7,867,000 after acquiring an additional 4,500 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of North American Construction Group by 686.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,428 shares of the oil and gas company’s stock valued at $387,000 after acquiring an additional 15,213 shares during the period. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of North American Construction Group by 53.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 839,759 shares of the oil and gas company’s stock valued at $18,681,000 after acquiring an additional 293,070 shares during the period. 74.99% of the stock is owned by institutional investors.

North American Construction Group Company Profile

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.