Arvin Capital Management LP Sells 36,147 Shares of RB Global, Inc. $RBA

Arvin Capital Management LP lessened its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 27.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,100 shares of the business services provider’s stock after selling 36,147 shares during the quarter. RB Global makes up about 1.9% of Arvin Capital Management LP’s portfolio, making the stock its 20th biggest position. Arvin Capital Management LP owned approximately 0.05% of RB Global worth $10,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RBA. Spire Wealth Management lifted its stake in shares of RB Global by 1,090.6% during the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after buying an additional 349 shares during the period. State of Wyoming purchased a new position in RB Global in the 2nd quarter worth $46,000. SouthState Corp lifted its position in RB Global by 75.6% during the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock worth $48,000 after acquiring an additional 195 shares during the period. Geneos Wealth Management Inc. grew its stake in RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of RB Global by 53.1% in the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 204 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares in the company, valued at $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America decreased their target price on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a report on Friday, November 7th. Raymond James Financial raised their price target on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a report on Monday, November 24th. Finally, Royal Bank Of Canada increased their price objective on shares of RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $129.29.

RB Global Stock Performance

Shares of NYSE RBA opened at $100.42 on Wednesday. The company has a market capitalization of $18.67 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 1.52 and a beta of 0.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. The company’s fifty day moving average price is $108.61 and its 200 day moving average price is $106.89. RB Global, Inc. has a 1 year low of $87.87 and a 1 year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. On average, research 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 was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were given a dividend of $0.31 per share. The ex-dividend date was Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. RB Global’s dividend payout ratio is currently 60.78%.

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.