Alta Equipment Group Inc. (NYSE:ALTG) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. trimmed its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 48.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,539 shares of the company’s stock after selling 9,004 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Alta Equipment Group were worth $62,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Alta Equipment Group during the 3rd quarter worth approximately $77,000. Quest Partners LLC acquired a new stake in Alta Equipment Group during the 2nd quarter worth $80,000. The Manufacturers Life Insurance Company purchased a new stake in Alta Equipment Group in the second quarter valued at $89,000. Ironwood Investment Management LLC purchased a new stake in Alta Equipment Group in the second quarter valued at $158,000. Finally, Quantinno Capital Management LP acquired a new position in Alta Equipment Group in the third quarter valued at $160,000. 73.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ALTG. Northland Securities reiterated 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 report on Wednesday, November 13th. Northland Capmk lowered Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Raymond James reduced their price objective on 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.75.

Alta Equipment Group Price Performance

Shares of NYSE:ALTG opened at $7.24 on Thursday. Alta Equipment Group Inc. has a one year low of $5.40 and a one year high of $13.67. The stock has a market capitalization of $240.77 million, a price-to-earnings ratio of -4.26 and a beta of 1.74. The company has a 50-day simple moving average of $7.27 and a 200-day simple moving average of $7.28. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, November 15th. Alta Equipment Group’s dividend payout ratio is presently -12.94%.

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.