Alta Equipment Group Inc. (NYSE:ALTG) Shares Acquired by Barclays PLC

Barclays PLC increased its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 302.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,327 shares of the company’s stock after acquiring an additional 28,812 shares during the quarter. Barclays PLC owned approximately 0.12% of Alta Equipment Group worth $258,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ALTG. SG Americas Securities LLC acquired a new stake in Alta Equipment Group during the third quarter worth approximately $77,000. Quest Partners LLC purchased a new stake in shares of Alta Equipment Group during the 2nd quarter valued at $80,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Alta Equipment Group during the 2nd quarter valued at $89,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Alta Equipment Group by 37.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock valued at $95,000 after buying an additional 3,218 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Alta Equipment Group by 17.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,543 shares of the company’s stock valued at $125,000 after buying an additional 2,777 shares during the period. Institutional investors and hedge funds own 73.58% of the company’s stock.

Alta Equipment Group Stock Performance

Shares of ALTG stock opened at $6.80 on Monday. Alta Equipment Group Inc. has a 12 month low of $5.40 and a 12 month high of $13.67. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43. The firm has a market capitalization of $226.14 million, a P/E ratio of -4.00 and a beta of 1.74. The company’s fifty day moving average price is $7.27 and its two-hundred day moving average price is $7.37.

Alta Equipment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.057 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.23 dividend on an annualized basis and a yield of 3.35%. Alta Equipment Group’s dividend payout ratio is currently -12.94%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALTG. Raymond James lowered their price objective on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Northland Securities reissued a “market perform” rating and set a $20.00 price objective (down from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Finally, Northland Capmk lowered shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alta Equipment Group currently has a consensus rating of “Hold” and an average price target of $15.75.

About Alta Equipment Group

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.