Alta Equipment Group Inc. (NYSE:ALTG) Stake Cut by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its holdings in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 18.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,641 shares of the company’s stock after selling 10,513 shares during the period. Janus Henderson Group PLC owned 0.14% of Alta Equipment Group worth $308,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ALTG. Paloma Partners Management Co acquired a new position in Alta Equipment Group during the 3rd quarter valued at approximately $2,646,000. Charles Schwab Investment Management Inc. grew its position in shares of 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 worth $529,000 after acquiring an additional 4,747 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Alta Equipment Group by 79.2% in the 3rd quarter. GSA Capital Partners LLP now owns 176,227 shares of the company’s stock worth $1,188,000 after acquiring an additional 77,887 shares during the period. Meixler Investment Management Ltd. acquired a new position in Alta Equipment Group during the 3rd quarter valued at about $178,000. Finally, Harbor Capital Advisors Inc. grew its position in Alta Equipment Group by 17.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,543 shares of the company’s stock worth $125,000 after purchasing an additional 2,777 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors.

Alta Equipment Group Trading Down 1.2 %

Shares of Alta Equipment Group stock opened at $7.38 on Monday. The business has a fifty day simple moving average of $7.08 and a 200-day simple moving average of $7.55. The firm has a market cap of $245.43 million, a price-to-earnings ratio of -4.34 and a beta of 1.71. Alta Equipment Group Inc. has a fifty-two week low of $5.40 and a fifty-two week high of $13.67. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given 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 3.09%. Alta Equipment Group’s dividend payout ratio (DPR) is -12.94%.

Insider Transactions at Alta Equipment Group

In related news, major shareholder Voss Capital, Lp sold 11,311 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total value of $71,372.41. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Northland Capmk lowered Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Raymond James cut their price objective on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Finally, Northland Securities reissued a “market perform” rating and set a $20.00 target price (down previously from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.75.

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.