Cetera Investment Advisers Sells 2,484 Shares of RB Global, Inc. (NYSE:RBA)

Cetera Investment Advisers lowered its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,088 shares of the business services provider’s stock after selling 2,484 shares during the quarter. Cetera Investment Advisers’ holdings in RB Global were worth $3,137,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in RB Global in the 1st quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV raised its holdings in RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after buying an additional 165 shares during the last quarter. Quarry LP bought a new position in RB Global in the 2nd quarter valued at approximately $53,000. Nisa Investment Advisors LLC raised its holdings in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after buying an additional 210 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in RB Global by 30.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock valued at $78,000 after buying an additional 241 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RBA stock opened at $79.47 on Friday. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 47.87, a price-to-earnings-growth ratio of 5.22 and a beta of 0.93. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $82.26 and a 200-day moving average of $78.19.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. On average, equities analysts forecast that RB Global, Inc. will post 1.92 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 given a dividend of $0.29 per share. This is an increase from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.46%. RB Global’s dividend payout ratio (DPR) is 69.88%.

Insider Transactions at RB Global

In related news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction 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 sale, the insider now owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the sale, the executive now owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their position. 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 quarter. 4.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.