Steward Partners Investment Advisory LLC Purchases 7,597 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Steward Partners Investment Advisory LLC raised its position in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,523 shares of the company’s stock after purchasing an additional 7,597 shares during the quarter. Steward Partners Investment Advisory LLC owned 0.13% of Alta Equipment Group worth $291,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Alta Equipment Group by 20.8% during the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after acquiring an additional 2,375 shares during the period. Quantinno Capital Management LP bought a new position in shares of Alta Equipment Group during the 3rd quarter valued at approximately $160,000. Meixler Investment Management Ltd. grew its stake in shares of Alta Equipment Group by 25.4% during the 4th quarter. Meixler Investment Management Ltd. now owns 33,192 shares of the company’s stock valued at $217,000 after acquiring an additional 6,717 shares during the period. Rhumbline Advisers grew its stake in shares of Alta Equipment Group by 5.7% during the 4th quarter. Rhumbline Advisers now owns 33,968 shares of the company’s stock valued at $222,000 after acquiring an additional 1,827 shares during the period. Finally, Barclays PLC grew its stake in shares of Alta Equipment Group by 302.8% during the 3rd quarter. Barclays PLC now owns 38,327 shares of the company’s stock valued at $258,000 after acquiring an additional 28,812 shares during the period. 73.58% of the stock is currently owned by institutional investors.

Alta Equipment Group Stock Up 8.1 %

NYSE ALTG opened at $5.30 on Friday. The stock’s 50 day moving average is $6.54 and its 200 day moving average is $6.73. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45. Alta Equipment Group Inc. has a 12 month low of $4.45 and a 12 month high of $13.67. The stock has a market cap of $176.09 million, a PE ratio of -3.11 and a beta of 1.81.

Alta Equipment Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were issued a $0.057 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.23 dividend on an annualized basis and a yield of 4.31%. Alta Equipment Group’s dividend payout ratio is presently -11.22%.

Insider Buying and Selling

In related news, COO Craig Brubaker sold 5,294 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the transaction, the chief operating officer now directly owns 98,640 shares of the company’s stock, valued at approximately $493,200. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut their price objective on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Monday, March 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Alta Equipment Group presently has a consensus rating of “Hold” and a consensus target price of $15.63.

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.