Corient Private Wealth LLC Decreases Stake in RB Global, Inc. (NYSE:RBA)

Corient Private Wealth LLC lessened its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,836 shares of the business services provider’s stock after selling 928 shares during the quarter. Corient Private Wealth LLC’s holdings in RB Global were worth $2,060,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Jones Financial Companies Lllp grew its stake in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 129 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of RB Global by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after purchasing an additional 137 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of RB Global by 25.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after purchasing an additional 143 shares during the last quarter. Versant Capital Management Inc grew its position in shares of RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 176 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in shares of RB Global by 4.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,762 shares of the business services provider’s stock valued at $339,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 1.2 %

NYSE RBA opened at $100.12 on Tuesday. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The stock has a market capitalization of $18.49 billion, a P/E ratio of 49.81, a PEG ratio of 4.95 and a beta of 0.94. The firm’s 50-day moving average is $95.57 and its two-hundred day moving average is $91.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business posted $0.82 EPS. On average, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is 57.71%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RBA. Royal Bank of Canada upped their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. BMO Capital Markets raised their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, CIBC cut their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

Insider Activity at RB Global

In other news, CRO James J. Jeter sold 600 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the sale, the executive now owns 19,667 shares of the company’s stock, valued at approximately $1,939,756.21. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock worth $2,338,161 in the last three months. 4.32% of the stock is owned by company 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.