Barclays PLC Purchases 4,152 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Barclays PLC grew its position in Alta Equipment Group Inc. (NYSE:ALTG) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,479 shares of the company’s stock after acquiring an additional 4,152 shares during the quarter. Barclays PLC’s holdings in Alta Equipment Group were worth $278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its holdings in Alta Equipment Group by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,533 shares of the company’s stock valued at $82,000 after purchasing an additional 4,272 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Alta Equipment Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 542,607 shares of the company’s stock valued at $3,549,000 after purchasing an additional 6,692 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alta Equipment Group by 31.7% during the 4th quarter. JPMorgan Chase & Co. now owns 67,722 shares of the company’s stock worth $443,000 after buying an additional 16,304 shares during the period. LPL Financial LLC lifted its position in shares of Alta Equipment Group by 1.5% during the 4th quarter. LPL Financial LLC now owns 118,942 shares of the company’s stock worth $778,000 after buying an additional 1,774 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Alta Equipment Group by 5.5% during the 4th quarter. American Century Companies Inc. now owns 285,492 shares of the company’s stock worth $1,867,000 after buying an additional 14,788 shares during the period. Institutional investors own 73.58% of the company’s stock.

Analysts Set New Price Targets

ALTG has been the subject of several analyst reports. B. Riley initiated coverage on Alta Equipment Group in a research report on Thursday, March 27th. They set a “buy” rating and a $10.00 target price for the company. Raymond James cut their target price on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alta Equipment Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.63.

Insider Buying and Selling at Alta Equipment Group

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the company’s stock in a transaction 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 approximately $493,200. This represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.20% of the company’s stock.

Alta Equipment Group Trading Up 2.7%

Shares of ALTG opened at $4.60 on Monday. The stock has a fifty day moving average price of $4.61 and a two-hundred day moving average price of $6.21. 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 $3.54 and a 52-week high of $11.39. The company has a market cap of $151.16 million, a price-to-earnings ratio of -2.71 and a beta of 1.53.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.05). Alta Equipment Group had a negative net margin of 2.81% and a negative return on equity of 42.09%. The business had revenue of $423.00 million during the quarter, compared to the consensus estimate of $436.15 million. Analysts predict that Alta Equipment Group Inc. will post -1.92 EPS for the current fiscal year.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a $0.057 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.23 annualized dividend and a yield of 4.96%. Alta Equipment Group’s payout ratio is -9.87%.

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.