Orion Portfolio Solutions LLC Lowers Stock Position in RB Global, Inc. (NYSE:RBA)

Orion Portfolio Solutions LLC reduced its position in shares of RB Global, Inc. (NYSE:RBAFree Report) (TSE:RBA) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,646 shares of the business services provider’s stock after selling 1,789 shares during the period. Orion Portfolio Solutions LLC’s holdings in RB Global were worth $965,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RBA. EverSource Wealth Advisors LLC lifted its position in shares of RB Global by 36.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 68,322 shares of the business services provider’s stock worth $4,570,000 after buying an additional 18,146 shares in the last quarter. Franklin Resources Inc. lifted its holdings in RB Global by 4.8% during the fourth quarter. Franklin Resources Inc. now owns 13,228 shares of the business services provider’s stock worth $885,000 after acquiring an additional 601 shares during the period. Assetmark Inc. boosted its position in RB Global by 36.0% in the fourth quarter. Assetmark Inc. now owns 5,827 shares of the business services provider’s stock worth $390,000 after purchasing an additional 1,542 shares during the last quarter. Corient Private Wealth LLC grew its stake in RB Global by 8.1% in the 4th quarter. Corient Private Wealth LLC now owns 20,786 shares of the business services provider’s stock valued at $1,390,000 after purchasing an additional 1,557 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of RB Global by 8.9% during the 4th quarter. Wells Fargo & Company MN now owns 132,663 shares of the business services provider’s stock worth $8,874,000 after purchasing an additional 10,867 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on RBA. Bank of America increased their price target on shares of RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Scotiabank lifted their price target on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 24th. Royal Bank of Canada increased their price objective on RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Raymond James boosted their target price on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.33.

Check Out Our Latest Analysis on RBA

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 14,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total value of $1,056,020.00. Following the transaction, the executive now owns 28,267 shares of the company’s stock, valued at $2,132,179.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CRO James J. Jeter sold 14,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the transaction, the executive now directly owns 28,267 shares in the company, valued at $2,132,179.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Baron Concors sold 13,230 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $75.05, for a total value of $992,911.50. Following the completion of the sale, the insider now directly owns 15,487 shares in the company, valued at approximately $1,162,299.35. The disclosure for this sale can be found here. Insiders sold a total of 32,230 shares of company stock valued at $2,429,632 in the last three months. Company insiders own 4.10% of the company’s stock.

RB Global Price Performance

RB Global stock opened at $71.21 on Tuesday. The firm has a market capitalization of $13.03 billion, a P/E ratio of 42.90, a PEG ratio of 4.97 and a beta of 0.88. RB Global, Inc. has a one year low of $53.24 and a one year high of $80.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 1.17. The business has a fifty day moving average price of $74.26 and a 200-day moving average price of $69.85.

RB Global (NYSE:RBAGet Free Report) (TSE:RBA) last issued its earnings results on Thursday, May 9th. The business services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities research analysts forecast that RB Global, Inc. will post 2.04 EPS for the current year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, May 29th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, May 29th. RB Global’s dividend payout ratio is presently 65.06%.

RB Global Company Profile

(Free Report)

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.

See Also

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Institutional Ownership by Quarter for RB Global (NYSE:RBA)

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