BW Gestao de Investimentos Ltda. Sells 59,742 Shares of RB Global, Inc. $RBA

BW Gestao de Investimentos Ltda. cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 685,556 shares of the business services provider’s stock after selling 59,742 shares during the period. RB Global comprises approximately 3.2% of BW Gestao de Investimentos Ltda.’s holdings, making the stock its 3rd biggest position. BW Gestao de Investimentos Ltda. owned 0.37% of RB Global worth $74,287,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Spire Wealth Management grew its holdings 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 valued at $41,000 after purchasing an additional 349 shares during the last quarter. State of Wyoming bought a new stake in shares of RB Global in the 2nd quarter worth approximately $46,000. Geneos Wealth Management Inc. boosted its position 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 period. NewEdge Advisors LLC boosted its position in RB Global by 53.1% during the 1st 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. Finally, MAI Capital Management grew its stake in RB Global by 27.9% during the 2nd quarter. MAI Capital Management now owns 655 shares of the business services provider’s stock worth $70,000 after buying an additional 143 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $2,385,330.00. Following the sale, the chief executive officer owned 107,569 shares of the company’s stock, valued at $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is currently owned by insiders.

RB Global Price Performance

Shares of NYSE RBA opened at $105.71 on Tuesday. The stock has a market cap of $19.65 billion, a P/E ratio of 51.82, a P/E/G ratio of 1.58 and a beta of 0.57. The firm’s 50-day simple moving average is $108.57 and its 200 day simple moving average is $106.60. RB Global, Inc. has a fifty-two week low of $87.87 and a fifty-two week high of $119.58. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. RB Global’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. Equities analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, February 9th. RB Global’s dividend payout ratio (DPR) is currently 60.78%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RBA. Weiss Ratings raised RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Royal Bank Of Canada upped their price target on shares of RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Raymond James Financial increased their price objective on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. BMO Capital Markets lifted their price objective on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a research note on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $129.29.

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.