North American Construction Group (NYSE:NOA) Upgraded by TD Cowen to Buy

TD Cowen upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a hold rating to a buy rating in a research report sent to investors on Thursday, Marketbeat reports.

Separately, StockNews.com upgraded shares of North American Construction Group from a hold rating to a buy rating in a research report on Monday, March 11th.

North American Construction Group Price Performance

Shares of NOA stock opened at $20.65 on Thursday. North American Construction Group has a 12 month low of $17.90 and a 12 month high of $26.30. The company has a market capitalization of $552.18 million, a PE ratio of 13.24 and a beta of 1.53. The firm’s 50-day moving average is $23.45 and its two-hundred day moving average is $21.93. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.91 and a quick ratio of 0.71.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Wednesday, March 13th. The oil and gas company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. North American Construction Group had a net margin of 6.60% and a return on equity of 22.18%. The business had revenue of $239.70 million during the quarter, compared to analysts’ expectations of $229.31 million. Analysts predict that North American Construction Group will post 2.84 earnings per share for the current year.

North American Construction Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 8th were issued a $0.074 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.43%. This is a boost from North American Construction Group’s previous quarterly dividend of $0.07. North American Construction Group’s payout ratio is 18.59%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Shell Asset Management Co. grew its holdings in shares of North American Construction Group by 142.3% in the third quarter. Shell Asset Management Co. now owns 1,929 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 1,133 shares in the last quarter. UBS Group AG grew its holdings in shares of North American Construction Group by 121.4% in the first quarter. UBS Group AG now owns 2,216 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,215 shares in the last quarter. State of Tennessee Treasury Department acquired a new position in shares of North American Construction Group in the first quarter valued at approximately $40,000. JPMorgan Chase & Co. grew its holdings in shares of 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 valued at $41,000 after purchasing an additional 1,511 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of North American Construction Group in the first quarter valued at approximately $60,000. Institutional investors and hedge funds 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.