North American Construction Group (NYSE:NOA) Shares Pass Above Two Hundred Day Moving Average - Here's Why

North American Construction Group Ltd. (NYSE:NOA - Get Free Report) TSE: NOA passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.39 and traded as high as $20.63. North American Construction Group shares last traded at $20.31, with a volume of 38,831 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. CIBC upgraded shares of North American Construction Group from a "neutral" rating to a "sector outperform" rating in a research note on Thursday, December 5th. Cibc World Mkts upgraded shares of North American Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, December 5th.

North American Construction Group Stock Performance

The company has a 50 day moving average of $20.63 and a 200 day moving average of $19.40. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 1.85. The firm has a market cap of $574.77 million, a price-to-earnings ratio of 14.37 and a beta of 1.46.

North American Construction Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Wednesday, November 27th were issued a $0.089 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from North American Construction Group's previous quarterly dividend of $0.07. The ex-dividend date was Wednesday, November 27th. North American Construction Group's payout ratio is 25.00%.

Institutional Investors Weigh In On North American Construction Group

A number of hedge funds have recently added to or reduced their stakes in NOA. TD Asset Management Inc increased its stake in shares of North American Construction Group by 2.4% during the second quarter. TD Asset Management Inc now owns 24,688 shares of the oil and gas company's stock valued at $476,000 after acquiring an additional 571 shares during the period. American Century Companies Inc. grew its holdings in shares of North American Construction Group by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 228,740 shares of the oil and gas company's stock worth $4,411,000 after acquiring an additional 13,559 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of North American Construction Group by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 154,078 shares of the oil and gas company's stock valued at $2,971,000 after purchasing an additional 5,567 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of North American Construction Group by 3.3% during the second quarter. Bank of Montreal Can now owns 1,869,122 shares of the oil and gas company's stock valued at $37,727,000 after purchasing an additional 59,046 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of North American Construction Group by 26.7% in the 2nd quarter. Marshall Wace LLP now owns 144,838 shares of the oil and gas company's stock valued at $2,792,000 after purchasing an additional 30,535 shares during the period. 74.99% of the stock is currently owned by institutional investors.

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.