North American Construction Group (NYSE:NOA) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other equities analysts also recently issued reports on the company. BMO Capital Markets downgraded North American Construction Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 12th. Roth Mkm began coverage on North American Construction Group in a research report on Thursday, February 5th. They set a “buy” rating and a $25.00 price target for the company. Loop Capital set a $24.00 price target on North American Construction Group in a research note on Friday, December 19th. ATB Cormark Capital Markets reissued a “sector perform” rating on shares of North American Construction Group in a report on Friday, December 19th. Finally, Canaccord Genuity Group upgraded North American Construction Group from a “hold” rating to a “buy” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.50.

North American Construction Group Trading Up 2.9%

Shares of North American Construction Group stock opened at $13.13 on Friday. The firm’s 50 day simple moving average is $15.67 and its two-hundred day simple moving average is $14.65. The firm has a market capitalization of $377.43 million, a price-to-earnings ratio of 16.41 and a beta of 1.09. North American Construction Group has a 12-month low of $12.07 and a 12-month high of $18.24. The company has a current ratio of 0.88, a quick ratio of 0.70 and a debt-to-equity ratio of 1.64.

North American Construction Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, March 26th. North American Construction Group’s dividend payout ratio (DPR) is 42.50%.

Institutional Investors Weigh In On North American Construction Group

Hedge funds have recently added to or reduced their stakes in the business. Aegis Financial Corp acquired a new stake in North American Construction Group during the 3rd quarter worth about $11,965,000. Bastion Asset Management Inc. acquired a new position in shares of North American Construction Group in the 4th quarter valued at about $8,475,000. Bank of Montreal Can boosted its stake in shares of North American Construction Group by 20.5% in the third quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company’s stock worth $38,409,000 after buying an additional 459,755 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of North American Construction Group by 50.1% in the third quarter. CIBC Asset Management Inc now owns 1,179,482 shares of the oil and gas company’s stock worth $16,763,000 after buying an additional 393,679 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in North American Construction Group during the fourth quarter worth about $4,877,000. 74.99% of the stock is owned by hedge funds and other institutional investors.

North American Construction Group Company Profile

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.