First Eagle Investment Management LLC Purchases Shares of 395,855 Alta Equipment Group Inc. (NYSE:ALTG)

First Eagle Investment Management LLC purchased a new stake in Alta Equipment Group Inc. (NYSE:ALTG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 395,855 shares of the company’s stock, valued at approximately $2,589,000. First Eagle Investment Management LLC owned approximately 1.19% of Alta Equipment Group as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ALTG. AlphaQuest LLC grew its stake in shares of Alta Equipment Group by 4,768.3% in the 4th quarter. AlphaQuest LLC now owns 49,316 shares of the company’s stock valued at $323,000 after purchasing an additional 48,303 shares during the period. Steward Partners Investment Advisory LLC grew its position in Alta Equipment Group by 20.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 44,523 shares of the company’s stock worth $291,000 after acquiring an additional 7,597 shares during the last quarter. Bank of New York Mellon Corp grew its position in Alta Equipment Group by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 238,827 shares of the company’s stock worth $1,562,000 after acquiring an additional 22,800 shares during the last quarter. Meixler Investment Management Ltd. grew its position in Alta Equipment Group by 25.4% during the 4th quarter. Meixler Investment Management Ltd. now owns 33,192 shares of the company’s stock worth $217,000 after acquiring an additional 6,717 shares during the last quarter. Finally, Quantum Private Wealth LLC grew its position in Alta Equipment Group by 12.4% during the 4th quarter. Quantum Private Wealth LLC now owns 89,240 shares of the company’s stock worth $584,000 after acquiring an additional 9,860 shares during the last quarter. Institutional investors and hedge funds own 73.58% of the company’s stock.

Alta Equipment Group Stock Up 8.1 %

Shares of ALTG opened at $5.30 on Friday. The firm has a market capitalization of $176.09 million, a price-to-earnings ratio of -3.11 and a beta of 1.81. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. The business’s fifty day moving average price is $6.54 and its two-hundred day moving average price is $6.73. Alta Equipment Group Inc. has a 52 week low of $4.45 and a 52 week high of $13.67.

Alta Equipment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Saturday, February 15th were given a $0.057 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.23 dividend on an annualized basis and a yield of 4.31%. Alta Equipment Group’s payout ratio is -11.22%.

Analyst Ratings Changes

Separately, Raymond James decreased their price target on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Monday, March 10th.

Insider Buying and Selling at Alta Equipment Group

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the transaction, the chief operating officer now directly owns 98,640 shares in the company, valued at approximately $493,200. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 19.90% of the company’s stock.

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.