Alta Equipment Group Inc. (NYSE:ALTG) Holdings Decreased by Foundry Partners LLC

Foundry Partners LLC lessened its stake in Alta Equipment Group Inc. (NYSE:ALTG) by 40.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 205,695 shares of the company’s stock after selling 140,475 shares during the quarter. Foundry Partners LLC’s holdings in Alta Equipment Group were worth $1,386,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ALTG. Russell Investments Group Ltd. increased its position in shares of Alta Equipment Group by 38.3% during the 1st quarter. Russell Investments Group Ltd. now owns 191,063 shares of the company’s stock valued at $2,474,000 after purchasing an additional 52,896 shares during the period. Vanguard Group Inc. grew its holdings in Alta Equipment Group by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,250,154 shares of the company’s stock worth $16,189,000 after acquiring an additional 8,962 shares during the period. Janus Henderson Group PLC raised its position in Alta Equipment Group by 237.0% in the first quarter. Janus Henderson Group PLC now owns 50,957 shares of the company’s stock worth $660,000 after acquiring an additional 35,838 shares in the last quarter. Ancora Advisors LLC lifted its holdings in Alta Equipment Group by 64.1% in the 1st quarter. Ancora Advisors LLC now owns 262,919 shares of the company’s stock valued at $3,405,000 after acquiring an additional 102,660 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Alta Equipment Group by 28.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,766 shares of the company’s stock valued at $127,000 after purchasing an additional 3,518 shares in the last quarter. Institutional investors and hedge funds own 73.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ALTG shares. DA Davidson dropped their target price on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Northland Securities reissued a “market perform” rating and set a $20.00 target price (down from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Raymond James dropped their target price on Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, November 14th. Finally, Northland Capmk lowered 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.75.

Alta Equipment Group Stock Performance

ALTG opened at $7.91 on Friday. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. The company has a market cap of $263.05 million, a PE ratio of -4.65 and a beta of 1.67. The stock has a 50-day moving average of $6.68 and a 200-day moving average of $7.71. Alta Equipment Group Inc. has a 52-week low of $5.40 and a 52-week high of $13.67.

Alta Equipment Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.057 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.23 annualized dividend and a yield of 2.88%. Alta Equipment Group’s dividend payout ratio (DPR) is presently -12.94%.

Insider Activity

In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total value of $71,372.41. Following the sale, the insider now directly owns 963,689 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 19.90% of the company’s stock.

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.