XTX Topco Ltd Increases Holdings in RB Global, Inc. (NYSE:RBA)

XTX Topco Ltd boosted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 364.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 18,219 shares of the business services provider’s stock after purchasing an additional 14,294 shares during the period. XTX Topco Ltd’s holdings in RB Global were worth $1,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Private Advisor Group LLC purchased a new stake in shares of RB Global in the 4th quarter valued at $260,000. Norges Bank acquired a new position in shares of RB Global in the 4th quarter valued at about $141,970,000. Wells Fargo & Company MN boosted its stake in shares of RB Global by 8.9% in the fourth quarter. Wells Fargo & Company MN now owns 132,663 shares of the business services provider’s stock worth $8,874,000 after buying an additional 10,867 shares during the last quarter. Corient Private Wealth LLC grew its holdings in RB Global by 8.1% during the fourth quarter. Corient Private Wealth LLC now owns 20,786 shares of the business services provider’s stock worth $1,390,000 after acquiring an additional 1,557 shares during the period. Finally, Assetmark Inc. raised its position in RB Global by 36.0% during the fourth quarter. Assetmark Inc. now owns 5,827 shares of the business services provider’s stock valued at $390,000 after acquiring an additional 1,542 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on RBA. BMO Capital Markets started coverage on RB Global in a research report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective on the stock. Royal Bank of Canada increased their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. CIBC initiated coverage on shares of RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective for the company. Bank of America increased their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Raymond James lifted 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.19.

RB Global Stock Down 1.1 %

RBA stock opened at $84.40 on Friday. RB Global, Inc. has a 52 week low of $58.85 and a 52 week 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. The firm has a 50-day simple moving average of $81.85 and a 200-day simple moving average of $77.68. The stock has a market capitalization of $15.43 billion, a P/E ratio of 50.84, a P/E/G ratio of 5.43 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.13 billion. During the same period in the previous year, the business earned $0.42 EPS. RB Global’s quarterly revenue was down .9% on a year-over-year basis. Equities analysts forecast that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Wednesday, August 28th. This is a boost from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is currently 69.88%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,166,263.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 3,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,733,841.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,718 shares of company stock worth $2,214,474. Insiders own 4.32% of the company’s stock.

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.