Park Avenue Securities LLC Sells 2,241 Shares of RB Global, Inc. (NYSE:RBA)

Park Avenue Securities LLC trimmed its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 20.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,900 shares of the business services provider’s stock after selling 2,241 shares during the period. Park Avenue Securities LLC’s holdings in RB Global were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RBA. Cary Street Partners Investment Advisory LLC bought a new stake in RB Global during the third quarter valued at $26,000. Oakworth Capital Inc. grew its holdings in shares of RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after purchasing an additional 162 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of RB Global in the fourth quarter worth approximately $54,000. Brown Brothers Harriman & Co. purchased a new stake in RB Global in the fourth quarter valued at approximately $72,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in RB Global by 63.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 1,448 shares of the business services provider’s stock valued at $97,000 after purchasing an additional 562 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Down 1.0 %

Shares of NYSE:RBA opened at $76.96 on Friday. The stock has a market capitalization of $14.07 billion, a P/E ratio of 46.36, a price-to-earnings-growth ratio of 5.31 and a beta of 0.88. The stock’s 50-day moving average price is $75.21 and its 200-day moving average price is $71.64. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.58. RB Global, Inc. has a 12-month low of $55.54 and a 12-month high of $81.74.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, equities analysts anticipate that RB Global, Inc. will post 2.04 earnings per share for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, May 29th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.40%. RB Global’s dividend payout ratio is currently 65.06%.

Insider Buying and Selling at RB Global

In other news, insider Baron Concors sold 13,230 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $75.05, for a total transaction of $992,911.50. Following the completion of the transaction, the insider now directly owns 15,487 shares of the company’s stock, valued at $1,162,299.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Baron Concors sold 13,230 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the transaction, the insider now owns 15,487 shares in the company, valued at approximately $1,162,299.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 8,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the completion of the sale, the chief executive officer now owns 78,104 shares of the company’s stock, valued at approximately $6,319,394.64. The disclosure for this sale can be found here. Insiders sold 43,867 shares of company stock valued at $3,370,272 in the last quarter. Company insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RBA. Scotiabank raised their price objective on shares of RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 24th. CIBC started coverage on RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target on the stock. Finally, Bank of America upped their price objective on RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, RB Global presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

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.