North American Construction Group (NYSE:NOA) Shares Gap Down to $23.77

Shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) gapped down before the market opened on Thursday . The stock had previously closed at $23.77, but opened at $23.23. North American Construction Group shares last traded at $23.34, with a volume of 1,239 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Canaccord Genuity Group upped their target price on North American Construction Group from $30.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, July 28th. TD Securities upgraded shares of North American Construction Group from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Finally, StockNews.com started coverage on shares of North American Construction Group in a report on Thursday, August 17th. They set a “buy” rating on the stock.

North American Construction Group Stock Performance

The firm has a market capitalization of $619.17 million, a P/E ratio of 11.89 and a beta of 1.48. The company has a 50-day moving average of $22.75 and a 200-day moving average of $19.77. The company has a current ratio of 1.20, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $144.12 million during the quarter, compared to the consensus estimate of $134.34 million. North American Construction Group had a return on equity of 26.68% and a net margin of 9.34%. On average, equities analysts anticipate that North American Construction Group Ltd. will post 1.81 earnings per share for the current fiscal year.

North American Construction Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Thursday, August 31st will be given a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from North American Construction Group’s previous quarterly dividend of $0.07. North American Construction Group’s payout ratio is 15.31%.

Institutional Investors Weigh In On North American Construction Group

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings 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 valued at $41,000 after buying an additional 1,511 shares during the period. Acadian Asset Management LLC lifted 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 valued at $520,000 after purchasing an additional 30,519 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of North American Construction Group in the 1st quarter valued at about $1,003,000. Cibc World Market Inc. boosted its position in shares of North American Construction Group by 3.3% during the 1st 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 grew its stake 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 worth $1,775,000 after purchasing an additional 7,455 shares during the period. 61.68% of the stock is currently owned by institutional investors and hedge funds.

North American Construction Group Company Profile

North American Construction Group Ltd. provides equipment maintenance, and mining and heavy construction services in Canada, the United States, and Australia. Its Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and reclamation services; and Equipment Maintenance services.