Xponance Inc. Boosts Stock Position in RB Global, Inc. (NYSE:RBA)

Xponance Inc. raised its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,697 shares of the business services provider’s stock after purchasing an additional 353 shares during the period. Xponance Inc.’s holdings in RB Global were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of RBA. Vanguard Group Inc. boosted its stake in shares of RB Global by 5.1% during the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after buying an additional 1,153,497 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of RB Global by 1.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock worth $652,590,000 after buying an additional 114,225 shares during the period. Vontobel Asset Management Inc. boosted its stake in shares of RB Global by 66.5% during the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after buying an additional 2,655,388 shares during the period. Cooke & Bieler LP boosted its stake in shares of RB Global by 3.4% during the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock worth $252,865,000 after buying an additional 109,056 shares during the period. Finally, Fiera Capital Corp lifted its position in RB Global by 5.7% in the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock valued at $239,881,000 after purchasing an additional 168,945 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Transactions at RB Global

In other 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 transaction, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the transaction, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at $7,166,263.23. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock valued at $3,720,043 in the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets assumed coverage on shares of RB Global in a research report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective for the company. Robert W. Baird raised 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. Bank of America raised their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, CIBC assumed coverage on shares of RB Global in a research report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average target price of $92.19.

RB Global Trading Down 0.5 %

Shares of RB Global stock opened at $80.27 on Friday. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The stock has a market cap of $14.68 billion, a PE ratio of 48.36, a price-to-earnings-growth ratio of 5.39 and a beta of 0.93. The company has a 50-day moving average of $82.04 and a two-hundred day moving average of $77.92.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, research analysts anticipate that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. 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.