North American Construction Group (NYSE:NOA) Upgraded by Raymond James to Strong-Buy Rating

Raymond James upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a moderate buy rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

NOA has been the subject of several other reports. 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 upgraded North American Construction Group from a “neutral” rating to a “sector outperform” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy”.

North American Construction Group Stock Performance

Shares of NOA stock opened at $20.87 on Tuesday. North American Construction Group has a one year low of $16.46 and a one 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 firm’s 50 day moving average price is $20.64 and its 200-day moving average price is $19.45. The firm has a market cap of $579.77 million, a P/E ratio of 14.49 and a beta of 1.46.

North American Construction Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Wednesday, November 27th were given a $0.089 dividend. This represents a $0.36 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 25.69%.

Institutional Trading of North American Construction Group

Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in North American Construction Group during the 3rd quarter worth $185,000. Geode Capital Management LLC boosted 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 valued at $264,000 after buying an additional 1,838 shares during the period. PDT Partners LLC grew its position in shares of North American Construction Group by 45.6% during the third quarter. PDT Partners LLC now owns 17,155 shares of the oil and gas company’s stock worth $321,000 after buying an additional 5,371 shares in the last quarter. Barclays PLC increased its stake in shares of North American Construction Group by 48.1% during the third quarter. Barclays PLC now owns 20,867 shares of the oil and gas company’s stock worth $390,000 after buying an additional 6,774 shares during the period. Finally, SkyView Investment Advisors LLC raised its holdings in North American Construction Group by 1.8% in the third quarter. SkyView Investment Advisors LLC now owns 59,371 shares of the oil and gas company’s stock valued at $1,110,000 after acquiring an additional 1,049 shares in the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.