Nisa Investment Advisors LLC Acquires 210 Shares of RB Global, Inc. (NYSE:RBA)

Nisa Investment Advisors LLC boosted its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 33.5% during the second quarter, Holdings Channel reports. The fund owned 836 shares of the business services provider’s stock after acquiring an additional 210 shares during the period. Nisa Investment Advisors LLC’s holdings in RB Global were worth $64,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBA. Massmutual Trust Co. FSB ADV grew its stake in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 165 shares during the last quarter. Signaturefd LLC boosted its position in RB Global by 11.0% in the 4th quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock valued at $128,000 after buying an additional 190 shares during the last quarter. Cigna Investments Inc. New increased its stake in shares of RB Global by 6.6% in the 2nd quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock valued at $262,000 after buying an additional 212 shares during the period. Ascent Group LLC increased its stake in shares of RB Global by 2.4% in the 1st quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after buying an additional 225 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in shares of RB Global by 4.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 5,386 shares of the business services provider’s stock worth $360,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Up 1.3 %

Shares of NYSE:RBA opened at $85.67 on Monday. The company has a 50 day moving average price of $79.05 and a two-hundred day moving average price of $75.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The company has a market capitalization of $15.66 billion, a PE ratio of 51.61, a PEG ratio of 5.85 and a beta of 0.91. RB Global, Inc. has a 52 week low of $57.43 and a 52 week high of $85.88.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. Analysts forecast that RB Global, Inc. will post 1.96 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be issued a $0.29 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Wednesday, August 28th. RB Global’s dividend payout ratio is 69.88%.

Analyst Ratings Changes

A number of analysts recently commented on RBA shares. Royal Bank of Canada lifted their price objective on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. CIBC began coverage on shares of RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target for the company. Robert W. Baird increased their price objective on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America lifted their target price on shares of RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Finally, Raymond James increased their price target 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.43.

Insider Transactions at RB Global

In related news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive now directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Darren Jeffrey Watt sold 2,915 shares of the firm’s 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 sale, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The disclosure for this sale can be found here. Insiders have sold a total of 17,472 shares of company stock valued at $1,412,566 over the last 90 days. 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.