559,616 Shares in Alta Equipment Group Inc. (NYSE:ALTG) Acquired by Federated Hermes Inc.

Posted by Defense World Staff on Aug 13th, 2023

Federated Hermes Inc. acquired a new position in Alta Equipment Group Inc. (NYSE:ALTG – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 559,616 shares of the company’s stock, valued at approximately $8,870,000. Federated Hermes Inc. owned about 1.74% of Alta Equipment Group at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Alta Equipment Group in the 1st quarter worth approximately $77,000. Essex Investment Management Co. LLC raised its position in shares of Alta Equipment Group by 16.7% during the 1st quarter. Essex Investment Management Co. LLC now owns 158,290 shares of the company’s stock valued at $2,509,000 after acquiring an additional 22,600 shares during the last quarter. Barclays PLC raised its position in shares of Alta Equipment Group by 88.8% during the 1st quarter. Barclays PLC now owns 10,512 shares of the company’s stock valued at $167,000 after acquiring an additional 4,944 shares during the last quarter. Foundry Partners LLC raised its position in shares of Alta Equipment Group by 5.9% during the 1st quarter. Foundry Partners LLC now owns 233,371 shares of the company’s stock valued at $3,699,000 after acquiring an additional 13,105 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Alta Equipment Group during the 1st quarter valued at $276,000. Institutional investors own 78.54% of the company’s stock.

Alta Equipment Group Stock Performance

Shares of Alta Equipment Group stock opened at $14.53 on Friday. The firm has a fifty day moving average of $16.44 and a two-hundred day moving average of $15.98. The stock has a market capitalization of $470.34 million, a price-to-earnings ratio of 96.87 and a beta of 1.56. Alta Equipment Group Inc. has a 52 week low of $10.64 and a 52 week high of $20.60. The company has a debt-to-equity ratio of 4.41, a quick ratio of 0.50 and a current ratio of 1.40.

Alta Equipment Group (NYSE:ALTG – Get Free Report) last issued its earnings results on Wednesday, May 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.13. Alta Equipment Group had a net margin of 0.45% and a return on equity of 8.07%. The company had revenue of $420.70 million during the quarter, compared to analysts’ expectations of $397.80 million. As a group, equities research analysts predict that Alta Equipment Group Inc. will post 0.38 EPS for the current year.

Alta Equipment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be given a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, August 14th. Alta Equipment Group’s dividend payout ratio is currently 153.33%.

Insider Activity at Alta Equipment Group

In related news, major shareholder B. Riley Financial, Inc. sold 2,200,000 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $16.25, for a total value of $35,750,000.00. Following the completion of the sale, the insider now owns 2,779,629 shares in the company, valued at approximately $45,168,971.25. The transaction was disclosed in a filing with the SEC, which is available through this link. 20.90% of the stock is owned by corporate insiders.

Alta Equipment Group Company Profile

(Free Report)

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates in two segments, Material Handling and Construction Equipment. 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 aerial work platforms, earthmoving equipment, environmental processing equipment, and other material handling and construction equipment.