SeaCrest Wealth Management LLC Acquires New Stake in RB Global, Inc. (NYSE:RBA)

SeaCrest Wealth Management LLC acquired a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,605 shares of the business services provider’s stock, valued at approximately $210,000.

Other large investors have also bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in RB Global in the 1st quarter worth about $613,000. Price T Rowe Associates Inc. MD boosted its position in RB Global by 25.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after purchasing an additional 74,809 shares during the period. MJP Associates Inc. ADV increased its stake in shares of RB Global by 10.7% in the second quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after purchasing an additional 401 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of RB Global by 21.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 452,402 shares of the business services provider’s stock valued at $30,261,000 after purchasing an additional 79,701 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of RB Global by 1,177.0% during the 1st quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock valued at $3,319,000 after buying an additional 40,160 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Up 0.7 %

RBA stock opened at $81.11 on Friday. RB Global, Inc. has a 1-year low of $58.85 and a 1-year high of $87.45. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 45.57, a price-to-earnings-growth ratio of 5.28 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. The company’s 50 day moving average is $82.71 and its 200 day moving average is $78.36.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping 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 firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts predict that RB Global, Inc. will post 1.92 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 annualized dividend and a yield of 1.43%. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s payout ratio is 65.17%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Raymond James lifted their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Bank of America boosted their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. BMO Capital Markets began coverage on RB Global in a research note on Thursday, September 5th. They issued an “outperform” rating and a $105.00 target price for the company. Robert W. Baird upped their price target 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, 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. 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.com, RB Global currently has a consensus rating of “Moderate Buy” and an average target price of $92.19.

Insider Transactions at RB Global

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was 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 in the company, valued at $1,595,638.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction dated 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 directly owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 44,601 shares of company stock worth $3,720,043. 4.10% of the stock is currently owned by corporate insiders.

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.