Alta Equipment Group (ALTG) Declares $0.06 Dividend

Alta Equipment Group said on February 1, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.23 annualized). Shareholders of record as of February 14, 2023 will receive the payment on February 28, 2023. Previously, the company paid $0.06 per share.

At the current share price of $17.19 / share, the stock's dividend yield is 1.33%. Looking back five years and taking a sample every week, the average dividend yield has been 1.88%, the lowest has been 1.37%, and the highest has been 2.27%. The standard deviation of yields is 0.21 (n=25).

The current dividend yield is 2.61 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.77. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

Analyst Price Forecast Suggests 23.12% Upside

As of February 3, 2023, the average one-year price target for Alta Equipment Group is $21.16. The forecasts range from a low of $17.17 to a high of $26.25. The average price target represents an increase of 23.12% from its latest reported closing price of $17.19.

The projected annual revenue for Alta Equipment Group is $1,756MM, an increase of 17.11%. The projected annual EPS is $0.44, an increase of 117.01%.

Fund Sentiment

There are 227 funds or institutions reporting positions in Alta Equipment Group. This is an increase of 20 owner(s) or 9.66%.

Average portfolio weight of all funds dedicated to US:ALTG is 0.1726%, an increase of 4.8407%. Total shares owned by institutions decreased in the last three months by 1.35% to 22,645K shares.

What are large shareholders doing?

B. Riley Financial holds 6,000,763 shares representing 18.64% ownership of the company. In it's prior filing, the firm reported owning 5,967,565 shares, representing an increase of 0.55%. The firm decreased its portfolio allocation in ALTG by 34.99% over the last quarter.

Nantahala Capital Management holds 1,314,421 shares representing 4.08% ownership of the company. In it's prior filing, the firm reported owning 1,672,545 shares, representing a decrease of 27.25%. The firm increased its portfolio allocation in ALTG by 24.48% over the last quarter.

Voss Capital holds 1,074,042 shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 831,666 shares, representing an increase of 22.57%. The firm increased its portfolio allocation in ALTG by 9.04% over the last quarter.

Granahan Investment Management holds 995,880 shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 934,246 shares, representing an increase of 6.19%. The firm increased its portfolio allocation in ALTG by 25.09% over the last quarter.

Mill Road Capital Management holds 897,047 shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 889,747 shares, representing an increase of 0.81%. The firm increased its portfolio allocation in ALTG by 41.28% over the last quarter.

Alta Equipment Group Background Information
(This description is provided by the company.)

Alta Equipment Group owns and operates one of the largest integrated equipment dealership platforms in the U.S. Through its branch network, the Company sells, rents, and provides parts and service support for several categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other material handling and construction equipment. Alta has operated as an equipment dealership for 36 years and has developed a branch network that includes 55 total locations across Michigan, Illinois, Indiana, New England, New York, Virginia and Florida. Alta offers its customers a one-stop-shop for their equipment needs through its broad, industry-leading product portfolio.

This story originally appeared on Fintel.