Profund Advisors LLC Makes New Investment in RB Global, Inc. (NYSE:RBA)

Profund Advisors LLC bought a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,329 shares of the business services provider’s stock, valued at approximately $407,000.

A number of other large investors also recently made changes to their positions in the company. YHB Investment Advisors Inc. bought a new stake in RB Global in the 1st quarter valued at about $27,000. Hollencrest Capital Management acquired a new stake in shares of RB Global in the first quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of 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 grew its position in RB Global by 33.5% during the second 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 in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in RB Global during the fourth quarter worth approximately $72,000. Institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 20,267 shares in the company, valued at $1,733,841.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the company’s 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 completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,166,263.23. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock worth $3,720,043 in the last quarter. 4.32% of the stock is owned by insiders.

RB Global Price Performance

RBA stock opened at $80.71 on Friday. The stock has a market cap of $14.76 billion, a price-to-earnings ratio of 48.62, a P/E/G ratio of 5.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. The company has a 50 day simple moving average of $82.02 and a 200 day simple moving average of $77.89. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last announced 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. 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 period in the prior year, the company earned $0.42 EPS. RB Global’s revenue was down .9% compared to the same quarter last year. Research analysts anticipate that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were paid a $0.29 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.44%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is currently 69.88%.

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.