Park Avenue Securities LLC Sells 1,406 Shares of RB Global, Inc. (NYSE:RBA)

Park Avenue Securities LLC lessened its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 15.9% in the third quarter, HoldingsChannel.com reports. The fund owned 7,424 shares of the business services provider’s stock after selling 1,406 shares during the period. Park Avenue Securities LLC’s holdings in RB Global were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor OS LLC grew its position in shares of RB Global by 1.9% in the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock valued at $638,000 after acquiring an additional 156 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 165 shares during the period. Nisa Investment Advisors LLC grew its position in shares of RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the period. Cigna Investments Inc. New grew its position in shares of RB Global by 6.6% in the 2nd quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 212 shares during the period. Finally, Ascent Group LLC grew its position in shares of RB Global by 2.4% in the 1st quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after acquiring an additional 225 shares during the period. Institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on RBA. BMO Capital Markets began coverage on shares of RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price for the company. Bank of America lifted their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Robert W. Baird lifted their target price 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. Raymond James lifted their target price on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, CIBC began coverage on shares of RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 target price for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.19.

Insider Activity

In other news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the transaction, the insider now directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their position. 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 2,920 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the transaction, the executive now owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,601 shares of company stock worth $3,720,043. 4.32% of the stock is currently owned by corporate insiders.

RB Global Stock Performance

NYSE RBA opened at $79.47 on Friday. 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 company has a market capitalization of $14.53 billion, a P/E ratio of 47.87, a P/E/G ratio of 5.22 and a beta of 0.93. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45. The firm has a 50-day moving average price of $82.26 and a two-hundred day moving average price of $78.19.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 EPS. Analysts anticipate that RB Global, Inc. will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were given a $0.29 dividend. The ex-dividend date was Wednesday, August 28th. This is a boost from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.46%. RB Global’s payout ratio is presently 69.88%.

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.