Amundi Trims Position in RB Global, Inc. $RBA

Amundi reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 15.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 144,930 shares of the business services provider’s stock after selling 26,887 shares during the period. Amundi owned about 0.08% of RB Global worth $14,209,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RBA. Securian Asset Management Inc. lifted its stake in shares of RB Global by 0.7% during the 1st quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider’s stock worth $1,408,000 after purchasing an additional 100 shares during the period. Nisa Investment Advisors LLC increased its stake in RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 104 shares during the last quarter. Wealth Alliance LLC lifted its position in RB Global by 2.7% during the first quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider’s stock worth $399,000 after buying an additional 104 shares during the period. CoreCap Advisors LLC lifted its position in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after buying an additional 117 shares during the period. Finally, Fullcircle Wealth LLC boosted its stake in RB Global by 5.5% in the 1st quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider’s stock worth $235,000 after buying an additional 124 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on RBA. Raymond James Financial upped their price objective on shares of RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. CIBC boosted their target price on shares of RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a report on Friday, July 18th. National Bankshares upped their price target on shares of RB Global from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. National Bank Financial lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 25th. Finally, Royal Bank Of Canada boosted their price objective on shares of RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.33.

Insider Transactions at RB Global

In related news, insider Darren Jeffrey Watt sold 7,400 shares of the firm’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the sale, the insider directly owned 24,874 shares in the company, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Francis Kessler sold 45,658 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares of the company’s stock, valued at approximately $11,832,590. This represents a 29.80% decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

RB Global Price Performance

RBA opened at $116.27 on Wednesday. RB Global, Inc. has a 52-week low of $78.08 and a 52-week high of $118.23. The company has a 50 day moving average of $111.58 and a two-hundred day moving average of $105.05. The company has a market cap of $21.58 billion, a P/E ratio of 57.56, a P/E/G ratio of 2.69 and a beta of 0.65. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted $0.94 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be given a $0.31 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global’s dividend payout ratio (DPR) is currently 61.39%.

RB Global Profile

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.