EverSource Wealth Advisors LLC Reduces Position in RB Global, Inc. (NYSE:RBA)

EverSource Wealth Advisors LLC lowered its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,163 shares of the business services provider’s stock after selling 184 shares during the period. EverSource Wealth Advisors LLC’s holdings in RB Global were worth $5,348,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. ProShare Advisors LLC purchased a new stake in RB Global in the second quarter valued at $662,000. Profund Advisors LLC acquired a new stake in shares of RB Global in the 2nd quarter valued at about $407,000. Summit Trail Advisors LLC purchased a new position in RB Global during the 2nd quarter worth approximately $315,000. Thrivent Financial for Lutherans acquired a new position in RB Global during the second quarter worth approximately $3,390,000. Finally, Sei Investments Co. lifted its stake in RB Global by 13.2% in the second quarter. Sei Investments Co. now owns 453,932 shares of the business services provider’s stock valued at $34,662,000 after buying an additional 52,988 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

RBA has been the topic of a number of recent research reports. Raymond James lifted their target price on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. CIBC started coverage on RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target on the stock. Robert W. Baird increased their price objective on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Royal Bank of Canada upped their price target on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets started coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus target price of $92.19.

RB Global Stock Performance

Shares of RBA opened at $84.41 on Friday. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45. The stock has a market cap of $15.43 billion, a P/E ratio of 50.85, a PEG ratio of 5.43 and a beta of 0.93. 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 company has a 50-day moving average of $81.85 and a two-hundred day moving average of $77.69.

RB Global (NYSE:RBA) (TSE:RBA) last announced its 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. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. RB Global’s quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts predict that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were issued a $0.29 dividend. The ex-dividend date was Wednesday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.37%. RB Global’s payout ratio is 69.88%.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the company’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 transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Darren Jeffrey Watt sold 2,915 shares of the business’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 completion of the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Francis Kessler sold 17,883 shares of the 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 transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The disclosure for this sale can be found here. Insiders have sold 26,718 shares of company stock worth $2,214,474 over the last quarter. 4.32% of the stock is currently owned by 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.