Raymond James & Associates Sells 870 Shares of RB Global, Inc. (NYSE:RBA)

Raymond James & Associates lessened its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,583 shares of the business services provider’s stock after selling 870 shares during the period. Raymond James & Associates’ holdings in RB Global were worth $9,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. YHB Investment Advisors Inc. bought a new stake in shares of RB Global in the 1st quarter valued at about $27,000. Hollencrest Capital Management bought a new position in RB Global during the 1st quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV raised its position in RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 165 shares during the last quarter. GAMMA Investing LLC bought a new position in RB Global during the 4th quarter valued at approximately $54,000. Finally, Brown Brothers Harriman & Co. bought a new position in RB Global during the 4th quarter valued at approximately $72,000. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of recent analyst reports. Bank of America upped their price target on RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. CIBC initiated coverage on RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target for the company. Raymond James upped their price target on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada upped their price target on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Robert W. Baird upped their price target on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.43.

Insider Buying and Selling

In related news, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the sale, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the sale, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. The disclosure for this sale can be found here. Insiders have sold 17,472 shares of company stock worth $1,412,566 in the last 90 days. Insiders own 4.32% of the company’s stock.

RB Global Stock Up 1.3 %

RBA stock opened at $85.67 on Monday. RB Global, Inc. has a fifty-two week low of $57.43 and a fifty-two week high of $85.88. The business’s 50 day moving average price is $79.05 and its two-hundred day moving average price is $75.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth ratio of 5.85 and a beta of 0.91.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. As a group, analysts forecast that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.35%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is presently 69.88%.

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.