UMB Bank n.a. Purchases 388 Shares of RB Global, Inc. (NYSE:RBA)

UMB Bank n.a. raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 196.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 586 shares of the business services provider’s stock after acquiring an additional 388 shares during the period. UMB Bank n.a.’s holdings in RB Global were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Advisor OS LLC grew its position in shares of RB Global by 1.9% in the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock valued at $638,000 after purchasing an additional 156 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position 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 purchasing an additional 165 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 210 shares in the last quarter. Cigna Investments Inc. New grew its position in shares of RB Global by 6.6% in the second quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 212 shares in the last quarter. Finally, Ascent Group LLC grew its position in shares of RB Global by 2.4% in the first quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after purchasing an additional 225 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,261,134.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 3,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the sale, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,601 shares of company stock valued at $3,720,043. Insiders own 4.32% of the company’s stock.

RB Global Price Performance

RBA opened at $81.05 on Tuesday. The stock has a 50-day moving average price of $82.55 and a 200-day moving average price of $78.28. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45. 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 stock has a market capitalization of $14.82 billion, a P/E ratio of 48.83, a PEG ratio of 5.27 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 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts predict that RB Global, Inc. will post 1.92 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.43%. 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 payout ratio is 69.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RBA shares. Bank of America lifted their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada boosted their target price on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. CIBC assumed coverage on RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 target price for the company. BMO Capital Markets assumed coverage on RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price for the company. Finally, Robert W. Baird boosted their target price on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.19.

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.