Amalgamated Bank Buys 81,209 Shares of RB Global, Inc. (NYSE:RBA)

Amalgamated Bank boosted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 698.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,830 shares of the business services provider’s stock after acquiring an additional 81,209 shares during the period. Amalgamated Bank owned 0.05% of RB Global worth $7,088,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. bought a new stake in RB Global in the first quarter valued at approximately $27,000. Hollencrest Capital Management acquired a new position in RB Global in the first quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV lifted its stake in RB Global by 58.7% in the second 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 during the period. Nisa Investment Advisors LLC lifted its stake in RB Global by 33.5% in the second 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 during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in RB Global in the fourth quarter valued at approximately $72,000. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on RBA shares. 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. 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. BMO Capital Markets started coverage on RB Global in a research note on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price target on the stock. CIBC initiated coverage on RB Global in a research note on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price target on the stock. Finally, Robert W. Baird upped their target price on RB Global from $80.00 to $86.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.19.

RB Global Price Performance

Shares of NYSE:RBA opened at $85.31 on Friday. The firm has a market capitalization of $15.60 billion, a price-to-earnings ratio of 51.39, a PEG ratio of 5.42 and a beta of 0.93. The stock’s 50 day moving average is $81.75 and its 200-day moving average is $77.62. RB Global, Inc. has a twelve month low of $58.85 and a twelve month high of $87.45. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

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

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were given a $0.29 dividend. This is a positive change from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, August 28th. RB Global’s dividend payout ratio is presently 69.88%.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction 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 sale, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other RB Global news, 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 value of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. The disclosure for this sale can be found here. In the last three months, insiders sold 26,718 shares of company stock valued at $2,214,474. 4.32% of the stock is owned by insiders.

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.