North American Construction Group (NYSE:NOA) Upgraded to “Strong-Buy” at Cibc World Mkts

Cibc World Mkts upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

Separately, CIBC upgraded North American Construction Group from a “neutral” rating to a “sector outperform” rating in a research report on Thursday.

North American Construction Group Trading Up 4.2 %

NOA opened at $21.04 on Thursday. North American Construction Group has a 12 month low of $16.46 and a 12 month high of $25.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.13 and a quick ratio of 0.88. The stock has a market capitalization of $585.48 million, a price-to-earnings ratio of 14.61 and a beta of 1.49. The business has a fifty day moving average price of $19.09 and a 200 day moving average price of $19.25.

North American Construction Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.089 per share. This is a boost from North American Construction Group’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.36 annualized dividend and a yield of 1.69%. North American Construction Group’s payout ratio is presently 24.31%.

Institutional Investors Weigh In On North American Construction Group

A number of institutional investors and hedge funds have recently modified their holdings of NOA. Public Employees Retirement System of Ohio purchased a new position in shares of North American Construction Group during the 3rd quarter worth $185,000. Geode Capital Management LLC raised its position 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 worth $264,000 after buying an additional 1,838 shares during the period. PDT Partners LLC raised its position in shares of North American Construction Group by 45.6% in the 3rd 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 during the period. Barclays PLC raised its position in shares of North American Construction Group by 48.1% in the 3rd 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, TD Asset Management Inc raised its position in shares of North American Construction Group by 2.4% in the 2nd quarter. TD Asset Management Inc now owns 24,688 shares of the oil and gas company’s stock worth $476,000 after buying an additional 571 shares during the period. Institutional investors and hedge funds 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.