RB Global, Inc. (NYSE:RBA) Holdings Raised by Ritholtz Wealth Management

Ritholtz Wealth Management grew its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 65.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,952 shares of the business services provider’s stock after acquiring an additional 4,322 shares during the quarter. Ritholtz Wealth Management’s holdings in RB Global were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in RBA. Raymond James Financial Inc. bought a new stake in shares of RB Global in the 4th quarter valued at approximately $266,148,000. Norges Bank bought a new stake in shares of RB Global in the 4th quarter valued at approximately $209,931,000. FMR LLC increased its holdings in shares of RB Global by 137.5% in the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after acquiring an additional 1,623,429 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of RB Global in the 4th quarter valued at approximately $39,080,000. Finally, FIL Ltd increased its holdings in shares of RB Global by 26.4% in the 4th quarter. FIL Ltd now owns 2,030,696 shares of the business services provider’s stock valued at $183,189,000 after acquiring an additional 424,060 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Trading Down 1.7%

NYSE:RBA opened at $104.91 on Wednesday. RB Global, Inc. has a 1 year low of $70.38 and a 1 year high of $109.25. The stock has a market cap of $19.43 billion, a price-to-earnings ratio of 51.68, a PEG ratio of 3.77 and a beta of 0.78. The business has a fifty day moving average of $102.99 and a 200-day moving average of $97.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be paid a $0.29 dividend. The ex-dividend date is Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. RB Global’s payout ratio is 57.14%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RBA shares. Robert W. Baird boosted their price target on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. BMO Capital Markets upped their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank Of Canada upped their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. National Bank Financial downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 25th. Finally, Raymond James Financial upped their price objective on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and a consensus target price of $114.50.

Insider Transactions at RB Global

In other news, insider Darren Jeffrey Watt sold 3,700 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $392,829.00. Following the completion of the sale, the insider now owns 24,874 shares in the company, valued at $2,640,872.58. This represents a 12.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Adam Dewitt sold 800 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the completion of the sale, the director now owns 5,865 shares of the company’s stock, valued at approximately $622,687.05. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,675 shares of company stock valued at $2,066,527. 0.28% of the stock is currently owned by corporate insiders.

About RB Global

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.