North American Construction Group (NYSE:NOA) Shares Gap Up to $20.79

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $20.79, but opened at $21.37. North American Construction Group shares last traded at $21.37, with a volume of 7,620 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOA. TD Cowen raised shares of North American Construction Group from a “hold” rating to a “buy” rating in a research report on Thursday. StockNews.com upgraded North American Construction Group from a “hold” rating to a “buy” rating in a report on Monday, March 11th.

North American Construction Group Stock Up 2.5 %

The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.71 and a current ratio of 0.91. The stock’s 50-day moving average price is $23.50 and its two-hundred day moving average price is $21.93. The stock has a market capitalization of $569.83 million, a PE ratio of 13.33 and a beta of 1.53.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its earnings results on Wednesday, March 13th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. The company had revenue of $239.70 million for the quarter, compared to analysts’ expectations of $229.31 million. North American Construction Group had a net margin of 6.60% and a return on equity of 22.18%. As a group, analysts expect that North American Construction Group Ltd. will post 2.84 EPS for the current fiscal year.

North American Construction Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 8th were issued a $0.074 dividend. This is an increase from North American Construction Group’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.39%. North American Construction Group’s dividend payout ratio is currently 18.59%.

Hedge Funds Weigh In On North American Construction Group

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in North American Construction Group by 114.5% in the first quarter. JPMorgan Chase & Co. now owns 2,831 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 1,511 shares during the period. Acadian Asset Management LLC increased its stake in shares of North American Construction Group by 528.1% in 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 in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in North American Construction Group in the 1st quarter worth $1,003,000. Cibc World Market Inc. lifted its position in North American Construction Group by 3.3% during the first quarter. Cibc World Market Inc. now owns 343,195 shares of the oil and gas company’s stock valued at $4,956,000 after purchasing an additional 10,905 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in North American Construction Group by 6.5% during the first quarter. Dimensional Fund Advisors LP now owns 122,940 shares of the oil and gas company’s stock valued at $1,775,000 after purchasing an additional 7,455 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.

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.