North American Construction Group (NYSE:NOA) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.28 and traded as high as $21.50. North American Construction Group shares last traded at $21.44, with a volume of 23,533 shares.

Wall Street Analysts Forecast Growth

NOA has been the topic of a number of recent analyst reports. CIBC upgraded North American Construction Group from a “neutral” rating to a “sector outperform” rating in a report 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 report on Thursday, December 5th.

North American Construction Group Price Performance

The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 1.85. The firm has a market cap of $597.19 million, a price-to-earnings ratio of 14.89 and a beta of 1.49. The company has a 50 day moving average of $19.90 and a 200 day moving average of $19.28.

North American Construction Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, November 27th will be given a $0.089 dividend. The ex-dividend date is Wednesday, November 27th. This is a positive change from North American Construction Group’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 1.66%. North American Construction Group’s payout ratio is currently 24.31%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of North American Construction Group by 240.4% during the second quarter. Millennium Management LLC now owns 225,336 shares of the oil and gas company’s stock worth $4,344,000 after acquiring an additional 159,142 shares in the last quarter. CIBC Asset Management Inc increased its holdings in North American Construction Group by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 1,154,556 shares of the oil and gas company’s stock worth $22,249,000 after purchasing an additional 140,562 shares in the last quarter. Bank of Montreal Can raised its stake in shares of North American Construction Group by 15.3% in the 3rd quarter. Bank of Montreal Can now owns 2,154,347 shares of the oil and gas company’s stock valued at $40,519,000 after purchasing an additional 285,225 shares during the period. SkyView Investment Advisors LLC lifted its holdings in shares of North American Construction Group by 75.0% in the second quarter. SkyView Investment Advisors LLC now owns 58,322 shares of the oil and gas company’s stock valued at $1,124,000 after purchasing an additional 25,003 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of North American Construction Group by 6.3% during the second quarter. American Century Companies Inc. now owns 228,740 shares of the oil and gas company’s stock worth $4,411,000 after buying an additional 13,559 shares during the period. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Company Profile

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.