CX Institutional Cuts Position in RB Global, Inc. (NYSE:RBA)

CX Institutional lessened its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,612 shares of the business services provider’s stock after selling 947 shares during the quarter. CX Institutional’s holdings in RB Global were worth $1,418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisor OS LLC boosted its holdings in RB Global by 1.9% during the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock valued at $638,000 after acquiring an additional 156 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings 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 acquiring an additional 165 shares during the period. Nisa Investment Advisors LLC boosted its holdings in RB Global by 33.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the period. Cigna Investments Inc. New boosted its holdings in RB Global by 6.6% during the 2nd quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 212 shares during the period. Finally, Ascent Group LLC boosted its holdings in RB Global by 2.4% during the 1st quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 2.6 %

RBA opened at $78.71 on Thursday. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 47.42, a PEG ratio of 5.27 and a beta of 0.93. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $87.45. The stock has a fifty day moving average price of $82.59 and a 200-day moving average price of $78.31.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts anticipate that RB Global, Inc. will post 1.92 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were paid 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 dividend on an annualized basis and a yield of 1.47%. RB Global’s dividend payout ratio (DPR) is 69.88%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RBA. Royal Bank of Canada lifted their target price on 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 began coverage on RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price for the company. Raymond James lifted their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird lifted their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Bank of America lifted their target price on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average target price of $92.19.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of the stock in a transaction dated 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 transaction, the executive now directly owns 23,267 shares in the company, valued at $1,837,162.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,601 shares of company stock worth $3,720,043. 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.