Oak Thistle LLC Invests $270,000 in RB Global, Inc. (NYSE:RBA)

Oak Thistle LLC purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,537 shares of the business services provider’s stock, valued at approximately $270,000.

Several other large investors have also recently made changes to their positions in the stock. YHB Investment Advisors Inc. purchased a new position in RB Global during the 1st quarter worth $27,000. Hollencrest Capital Management purchased a new position in RB Global during the 1st quarter worth $33,000. Massmutual Trust Co. FSB ADV grew its stake 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 worth $34,000 after buying an additional 165 shares during the last quarter. Nisa Investment Advisors LLC grew its stake 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 worth $64,000 after buying an additional 210 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in RB Global during the 4th quarter worth $72,000. 95.37% of the stock is owned by institutional investors.

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 that occurred 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 owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RB Global news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction that occurred 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 owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47. Following the transaction, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The disclosure for this sale can be found here. Insiders sold 38,355 shares of company stock valued at $3,155,114 over the last quarter. 4.32% of the stock is currently owned by insiders.

RB Global Stock Performance

NYSE RBA opened at $84.04 on Wednesday. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 50.63, a PEG ratio of 5.28 and a beta of 0.93. RB Global, Inc. has a twelve month low of $58.85 and a twelve month high of $87.45. 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 stock has a 50-day moving average of $80.56 and a 200 day moving average of $77.18.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share 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 company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. RB Global’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts anticipate that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.38%. This is a boost from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is presently 69.88%.

Analyst Upgrades and Downgrades

RBA has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. CIBC initiated coverage on RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target on the stock. BMO Capital Markets initiated coverage on RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target on the stock. Finally, Robert W. Baird boosted their price target on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average price target of $92.19.

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.