Gabelli Funds LLC Has $1.83 Million Stock Position in RB Global, Inc. (NYSE:RBA)

Gabelli Funds LLC cut its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,000 shares of the business services provider’s stock after selling 1,800 shares during the period. Gabelli Funds LLC’s holdings in RB Global were worth $1,833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after purchasing an additional 1,153,497 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of RB Global by 1.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock valued at $652,590,000 after buying an additional 114,225 shares during the last quarter. Vontobel Asset Management Inc. boosted its position in shares of RB Global by 66.5% during the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock valued at $467,920,000 after buying an additional 2,655,388 shares during the last quarter. Cooke & Bieler LP grew its holdings in RB Global by 3.4% during the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock worth $252,865,000 after buying an additional 109,056 shares in the last quarter. Finally, Fiera Capital Corp raised its position in RB Global by 5.7% in the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock valued at $239,881,000 after buying an additional 168,945 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Transactions at RB Global

In related news, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was 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 link. Also, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares of the company’s stock, valued at $1,733,841.85. The disclosure for this sale can be found here. Insiders sold 44,601 shares of company stock worth $3,720,043 over the last quarter. Corporate insiders own 4.32% of the company’s stock.

RB Global Stock Down 2.5 %

RB Global stock opened at $82.12 on Thursday. The firm has a 50 day moving average price of $82.02 and a 200-day moving average price of $77.87. 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, Inc. has a twelve month low of $58.85 and a twelve month high of $87.45. The company has a market capitalization of $15.02 billion, a P/E ratio of 49.47, a P/E/G ratio of 5.39 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate 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 revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. As a group, equities analysts predict that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is currently 69.88%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird lifted their price objective on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Royal Bank of Canada upped their price objective on shares of 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 target price on the stock. Raymond James boosted their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets assumed coverage on RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and an average target price of $92.19.

RB Global 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.