SG Americas Securities LLC Lowers Stock Position in RB Global, Inc. (NYSE:RBA)

SG Americas Securities LLC reduced its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 93.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,907 shares of the business services provider’s stock after selling 76,169 shares during the period. SG Americas Securities LLC’s holdings in RB Global were worth $395,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RBA. Hollencrest Capital Management purchased a new position in shares of RB Global during the 1st quarter valued at about $33,000. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 buying an additional 165 shares in the last quarter. Quarry LP purchased a new position in shares of RB Global during the 2nd quarter valued at about $53,000. Nisa Investment Advisors LLC lifted its position in shares of 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 buying an additional 210 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of RB Global by 30.9% during 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 in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO James J. Jeter sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the transaction, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. The trade was 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 3,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was 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 owns 20,267 shares in the company, valued at $1,733,841.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 2,915 shares of the business’s 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 transaction, the insider now 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. In the last 90 days, insiders have sold 44,601 shares of company stock valued at $3,720,043. 4.32% of the stock is currently owned by insiders.

RB Global Stock Performance

NYSE:RBA opened at $80.54 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45. The stock’s 50 day simple moving average is $82.62 and its two-hundred day simple moving average is $78.32. The company has a market cap of $14.73 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 5.27 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The company’s revenue was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that RB Global, Inc. will post 1.92 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently announced 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. The ex-dividend date was Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.44%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s payout ratio is currently 69.88%.

Analysts Set New Price Targets

Several analysts recently issued reports on RBA shares. 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 note on Wednesday, August 7th. 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 note on Monday, August 26th. 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 note on Wednesday, August 7th. BMO Capital Markets started coverage on RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, 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 note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.