HB Wealth Management LLC Takes Position in RB Global, Inc. $RBA

HB Wealth Management LLC acquired a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,246 shares of the business services provider’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Samlyn Capital LLC purchased a new position in shares of RB Global in the first quarter worth $118,821,000. Third Point LLC acquired a new stake in RB Global during the first quarter valued at $95,285,000. Fiera Capital Corp grew its position in RB Global by 17.3% during the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock valued at $379,150,000 after buying an additional 557,407 shares during the period. Nuveen LLC acquired a new stake in shares of RB Global in the first quarter valued at about $54,584,000. Finally, Invesco Ltd. grew its position in shares of RB Global by 26.9% in the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider’s stock valued at $244,360,000 after purchasing an additional 516,865 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on RBA. CIBC raised their price target on shares of RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Royal Bank Of Canada lifted their target price on shares of RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. National Bankshares lifted their target price on shares of RB Global from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of RB Global from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Raymond James Financial lifted their target price on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.33.

RB Global Stock Down 1.6%

RBA stock opened at $105.76 on Wednesday. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 52.35, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global, Inc. has a 12 month low of $78.55 and a 12 month high of $119.58. The company has a fifty day moving average price of $113.47 and a 200 day moving average price of $106.85.

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

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were issued a $0.31 dividend. This is a positive change from RB Global’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. RB Global’s payout ratio is currently 61.39%.

Insider Buying and Selling at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the company’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the transaction, the insider owned 24,874 shares of the company’s stock, valued at $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,209 shares of company stock worth $6,090,521. Corporate insiders own 0.28% of the company’s stock.

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.