North American Construction Group (NYSE:NOA) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of North American Construction Group (NYSE:NOA – Get Rating) (TSE:NOA) in a report issued on Thursday. The brokerage issued a strong-buy rating on the oil and gas company’s stock.

A number of other brokerages have also commented on NOA. TheStreet raised North American Construction Group from a c+ rating to a b rating in a research note on Thursday, February 16th. BMO Capital Markets raised their price objective on North American Construction Group from C$24.00 to C$25.00 in a research note on Thursday, February 16th. TD Securities lowered North American Construction Group from a buy rating to a hold rating in a research note on Friday, February 17th. Finally, National Bank Financial increased their price target on North American Construction Group to C$27.00 in a report on Friday, February 17th.

North American Construction Group Price Performance

Shares of North American Construction Group stock opened at $15.92 on Thursday. The stock has a 50 day moving average of $15.58 and a 200 day moving average of $13.27. North American Construction Group has a 12 month low of $9.20 and a 12 month high of $18.00. The firm has a market cap of $452.76 million, a PE ratio of 9.59 and a beta of 1.50. The company has a current ratio of 1.20, a quick ratio of 0.94 and a debt-to-equity ratio of 1.24.

North American Construction Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 7th. Stockholders of record on Friday, March 3rd will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.88%. This is an increase from North American Construction Group’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 2nd. North American Construction Group’s dividend payout ratio is presently 17.47%.

Institutional Investors Weigh In On North American Construction Group

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in North American Construction Group by 114.5% during the 1st quarter. JPMorgan Chase & Co. now owns 2,831 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 1,511 shares during the period. Acadian Asset Management LLC increased its holdings in North American Construction Group by 528.1% during the 1st quarter. Acadian Asset Management LLC now owns 36,298 shares of the oil and gas company’s stock worth $520,000 after purchasing an additional 30,519 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in North American Construction Group during the 1st quarter worth $1,003,000. Cibc World Market Inc. increased its holdings in North American Construction Group by 3.3% during the 1st quarter. Cibc World Market Inc. now owns 343,195 shares of the oil and gas company’s stock worth $4,956,000 after purchasing an additional 10,905 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in North American Construction Group by 6.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 122,940 shares of the oil and gas company’s stock worth $1,775,000 after purchasing an additional 7,455 shares during the period. 57.19% of the stock is currently owned by hedge funds and other institutional investors.

About North American Construction Group

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North American Construction Group Ltd. engages in providing mining and heavy construction services. It offers mining and heavy construction services to customers in the resource development and industrial construction sectors. The firm focuses on supporting the construction and operation of surface mines in the oil sands.