11,412 Shares in RB Global, Inc. (NYSE:RBA) Acquired by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,412 shares of the business services provider’s stock, valued at approximately $871,000.

Several other institutional investors have also recently modified their holdings of the stock. ProShare Advisors LLC acquired a new position in shares of RB Global during the 2nd quarter worth approximately $662,000. Profund Advisors LLC acquired a new stake in shares of RB Global during the 2nd quarter worth $407,000. Summit Trail Advisors LLC acquired a new stake in shares of RB Global during the 2nd quarter worth $315,000. Thrivent Financial for Lutherans acquired a new stake in shares of RB Global during the 2nd quarter worth $3,390,000. Finally, Sei Investments Co. increased its holdings in shares of RB Global by 13.2% during the 2nd quarter. Sei Investments Co. now owns 453,932 shares of the business services provider’s stock worth $34,662,000 after buying an additional 52,988 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of research reports. Bank of America upped their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. BMO Capital Markets initiated coverage on shares of RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target for the company. CIBC began coverage on shares of 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. Robert W. Baird upped their price objective on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Raymond James upped their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.19.

Insider Activity

In other news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the transaction, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the firm’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 transaction of $241,362.00. Following the sale, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The disclosure for this sale can be found here. Insiders sold 26,718 shares of company stock worth $2,214,474 over the last three months. Corporate insiders own 4.32% of the company’s stock.

RB Global Price Performance

RBA opened at $84.41 on Monday. The company’s 50-day moving average price is $81.85 and its 200 day moving average price is $77.71. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $87.45. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 50.85, a price-to-earnings-growth ratio of 5.43 and a beta of 0.93. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

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

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This is a boost from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.37%. RB Global’s dividend payout ratio (DPR) is 69.88%.

RB Global Company 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.