State Street Corp Has $3.28 Million Stock Holdings in Alta Equipment Group Inc. (NYSE:ALTG)

State Street Corp increased its holdings in shares of Alta Equipment Group Inc. (NYSE:ALTG) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 485,892 shares of the company’s stock after acquiring an additional 11,946 shares during the period. State Street Corp’s holdings in Alta Equipment Group were worth $3,275,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Mill Road Capital Management LLC raised its stake in Alta Equipment Group by 18.2% during the third quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock worth $28,397,000 after acquiring an additional 650,214 shares in the last quarter. Nantahala Capital Management LLC boosted its position in Alta Equipment Group by 108.2% in the second quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after buying an additional 435,713 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Alta Equipment Group by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 567,974 shares of the company’s stock worth $4,567,000 after buying an additional 18,343 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Alta Equipment Group in the third quarter valued at approximately $2,646,000. Finally, Foundry Partners LLC raised its position in Alta Equipment Group by 17.8% in the 2nd quarter. Foundry Partners LLC now owns 346,170 shares of the company’s stock valued at $2,783,000 after purchasing an additional 52,255 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alta Equipment Group

In other Alta Equipment Group news, major shareholder Voss Capital, Lp sold 11,311 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 963,689 shares in the company, valued at approximately $6,080,877.59. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALTG. Raymond James dropped their target price on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Northland Securities reiterated a “market perform” rating and set a $20.00 price target (down previously from $30.00) on shares of Alta Equipment Group in a research report on Wednesday, November 13th. Finally, Northland Capmk lowered shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.75.

Alta Equipment Group Price Performance

ALTG opened at $6.52 on Tuesday. The company has a fifty day simple moving average of $7.22 and a 200 day simple moving average of $7.44. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45. The stock has a market cap of $216.83 million, a P/E ratio of -3.84 and a beta of 1.71. Alta Equipment Group Inc. has a 12 month low of $5.40 and a 12 month high of $13.67.

Alta Equipment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.057 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.23 dividend on an annualized basis and a yield of 3.50%. Alta Equipment Group’s payout ratio is -12.94%.

Alta Equipment Group 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.