Armstrong Henry H Associates Inc. Boosts Stake in RB Global, Inc. (NYSE:RBA)

Armstrong Henry H Associates Inc. boosted its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,995 shares of the business services provider’s stock after purchasing an additional 400 shares during the period. Armstrong Henry H Associates Inc.’s holdings in RB Global were worth $644,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RBA. Wells Fargo & Company MN grew its stake in shares of RB Global by 8.9% during the 4th quarter. Wells Fargo & Company MN now owns 132,663 shares of the business services provider’s stock valued at $8,874,000 after acquiring an additional 10,867 shares during the period. Franklin Resources Inc. increased its stake in shares of RB Global by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 13,228 shares of the business services provider’s stock worth $885,000 after purchasing an additional 601 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of RB Global by 51.3% during the 4th quarter. CIBC Asset Management Inc now owns 14,975 shares of the business services provider’s stock valued at $1,005,000 after purchasing an additional 5,075 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of RB Global during the 4th quarter valued at $284,000. Finally, Gabelli Funds LLC boosted its holdings in RB Global by 2.0% in the 4th quarter. Gabelli Funds LLC now owns 26,525 shares of the business services provider’s stock worth $1,774,000 after buying an additional 525 shares during the period. Institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

RBA has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Robert W. Baird boosted their target price on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Bank of America lifted their price target on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. BMO Capital Markets assumed coverage on shares of RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective for the company. Finally, Raymond James lifted their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $92.19.

RB Global Stock Performance

NYSE:RBA opened at $80.02 on Thursday. 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 stock’s fifty day moving average is $82.04 and its 200 day moving average is $78.03. The firm has a market capitalization of $14.74 billion, a PE ratio of 48.21, a PEG ratio of 5.13 and a beta of 0.93. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was down .9% on a year-over-year basis. On average, sell-side analysts anticipate that RB Global, Inc. will post 1.96 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 1.45%. This is a boost from RB Global’s previous quarterly dividend of $0.27. RB Global’s payout ratio is presently 69.88%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value 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 approximately $7,166,263.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the transaction, the executive now directly owns 23,267 shares in the company, valued at $1,837,162.32. The disclosure for this sale can be found here. Insiders have sold 44,601 shares of company stock valued at $3,720,043 in the last quarter. 4.32% of the stock is owned by insiders.

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.