Intech Investment Management LLC Makes New Investment in Alta Equipment Group Inc. (NYSE:ALTG)

Intech Investment Management LLC purchased a new position in shares of Alta Equipment Group Inc. (NYSE:ALTG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,096 shares of the company’s stock, valued at approximately $79,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Mill Road Capital Management LLC grew its stake in shares of Alta Equipment Group by 18.2% in the third quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock valued at $28,397,000 after buying an additional 650,214 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after purchasing an additional 2,375 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Alta Equipment Group by 167.8% during the third quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock valued at $347,000 after purchasing an additional 32,218 shares during the period. Paloma Partners Management Co acquired a new position in shares of Alta Equipment Group during the third quarter worth $2,646,000. Finally, Barclays PLC boosted its stake in shares of Alta Equipment Group by 302.8% in the third quarter. Barclays PLC now owns 38,327 shares of the company’s stock valued at $258,000 after purchasing an additional 28,812 shares during the period. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total transaction of $26,470.00. Following the transaction, the chief operating officer now owns 98,640 shares of the company’s stock, valued at $493,200. This trade represents a 5.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 19.90% of the company’s stock.

Alta Equipment Group Trading Down 7.0 %

ALTG opened at $4.60 on Friday. Alta Equipment Group Inc. has a 12-month low of $4.45 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 stock has a market capitalization of $150.99 million, a PE ratio of -2.70 and a beta of 1.81. The firm’s fifty day moving average price is $6.20 and its 200 day moving average price is $6.63.

Alta Equipment Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were given a dividend of $0.057 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 4.96%. Alta Equipment Group’s payout ratio is -11.22%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ALTG shares. Raymond James dropped their price target on shares of Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Monday, March 10th. B. Riley assumed coverage on Alta Equipment Group in a research report on Thursday. They set a “buy” rating and a $10.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.63.

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.