Alta Equipment Group Inc. (NYSE:ALTG) Shares Bought by State Street Corp

State Street Corp boosted its holdings in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 485,892 shares of the company’s stock after purchasing an additional 11,946 shares during the period. State Street Corp owned approximately 1.47% of Alta Equipment Group worth $3,275,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its position 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 acquiring an additional 2,777 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Alta Equipment Group by 37.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock worth $95,000 after purchasing an additional 3,218 shares in the last quarter. Rhumbline Advisers raised its holdings in Alta Equipment Group by 13.7% during the 2nd quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock worth $253,000 after buying an additional 3,803 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Alta Equipment Group by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 78,454 shares of the company’s stock valued at $529,000 after buying an additional 4,747 shares in the last quarter. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of Alta Equipment Group by 14.0% in the second quarter. SkyView Investment Advisors LLC now owns 45,225 shares of the company’s stock worth $364,000 after buying an additional 5,537 shares during the period. 73.58% of the stock is currently owned by institutional investors.

Insider Activity

In other Alta Equipment Group news, major shareholder Voss Capital, Lp sold 11,311 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total transaction of $71,372.41. Following the transaction, the insider now owns 963,689 shares in the company, valued at $6,080,877.59. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 19.90% of the stock is owned by insiders.

Alta Equipment Group Trading Down 3.3 %

Shares of NYSE ALTG opened at $6.52 on Tuesday. The stock has a market cap of $216.83 million, a price-to-earnings ratio of -3.84 and a beta of 1.71. The business has a 50 day simple moving average of $7.22 and a 200 day simple moving average of $7.44. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. Alta Equipment Group Inc. has a 52 week low of $5.40 and a 52 week high of $13.67.

Alta Equipment Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.057 per share. The ex-dividend date was Friday, November 15th. This represents a $0.23 annualized dividend and a dividend yield of 3.50%. Alta Equipment Group’s dividend payout ratio (DPR) is -12.94%.

Analyst Upgrades and Downgrades

ALTG has been the subject of several research analyst reports. Raymond James reduced their price target on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. Northland Securities restated a “market perform” rating and issued a $20.00 target price (down previously from $30.00) on shares of Alta Equipment Group in a report on Wednesday, November 13th. Finally, Northland Capmk lowered shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.75.

Alta Equipment Group 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.