Barclays PLC Boosts Holdings in Alta Equipment Group Inc. (NYSE:ALTG)

Barclays PLC raised its stake in 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 Securities & Exchange Commission. 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 Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Alta Equipment Group in the 3rd quarter worth approximately $77,000. The Manufacturers Life Insurance Company purchased a new stake in Alta Equipment Group in the second quarter worth $89,000. Harbor Capital Advisors Inc. raised its stake in shares of Alta Equipment Group by 17.6% in the third 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. Ironwood Investment Management LLC purchased a new position in shares of Alta Equipment Group during the 2nd quarter valued at $158,000. Finally, Quantinno Capital Management LP bought a new position in shares of Alta Equipment Group during the 3rd quarter worth $160,000. 73.58% of the stock is currently owned by hedge funds and other institutional investors.

Alta Equipment Group Stock Up 1.3 %

ALTG stock opened at $7.31 on Tuesday. The stock has a 50-day simple moving average of $7.22 and a two-hundred day simple moving average of $7.26. Alta Equipment Group Inc. has a twelve month low of $5.40 and a twelve month high of $13.67. The firm has a market capitalization of $242.96 million, a PE ratio of -4.30 and a beta of 1.74. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45.

Alta Equipment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.057 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.23 annualized dividend and a yield of 3.12%. Alta Equipment Group’s dividend payout ratio is currently -13.53%.

Wall Street Analyst Weigh In

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

Alta Equipment Group Company Profile

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.