North American Construction Group (NYSE:NOA) Stock Crosses Above 200-Day Moving Average of $22.01

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.01 and traded as high as $22.65. North American Construction Group shares last traded at $22.65, with a volume of 38,651 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded North American Construction Group from a “hold” rating to a “buy” rating in a research note on Monday, March 11th.

North American Construction Group Price Performance

The company has a market capitalization of $605.66 million, a price-to-earnings ratio of 14.52 and a beta of 1.55. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 1.71. The company has a 50 day simple moving average of $23.79 and a 200 day simple moving average of $22.01.

North American Construction Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 8th will be given a $0.074 dividend. This is an increase from North American Construction Group’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $0.30 annualized dividend and a dividend yield of 1.31%. North American Construction Group’s dividend payout ratio is presently 18.59%.

Institutional Investors Weigh In On North American Construction Group

Several institutional investors and hedge funds have recently modified their holdings of NOA. Renaissance Technologies LLC boosted its position in shares of North American Construction Group by 59.5% in the first quarter. Renaissance Technologies LLC now owns 771,400 shares of the oil and gas company’s stock worth $11,156,000 after buying an additional 287,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in North American Construction Group by 101.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,500 shares of the oil and gas company’s stock valued at $11,819,000 after purchasing an additional 274,600 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in North American Construction Group by 325.9% in the third quarter. Quadrature Capital Ltd now owns 299,400 shares of the oil and gas company’s stock valued at $6,551,000 after purchasing an additional 229,100 shares during the last quarter. NewGen Asset Management Ltd purchased a new position in North American Construction Group in the fourth quarter valued at about $4,170,000. Finally, Intact Investment Management Inc. purchased a new position in North American Construction Group in the fourth quarter valued at about $3,915,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

About North American Construction Group

North American Construction Group Ltd. provides equipment maintenance, 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.