AE Wealth Management LLC Acquires Shares of 2,928 RB Global, Inc. (NYSE:RBA)

AE Wealth Management LLC purchased a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,928 shares of the business services provider's stock, valued at approximately $294,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CoreCap Advisors LLC lifted its stake in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. MV Capital Management Inc. lifted its position in shares of RB Global by 5,560.0% in the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after buying an additional 278 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after acquiring an additional 279 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of RB Global by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after acquiring an additional 104 shares during the last quarter. Finally, Allworth Financial LP raised its stake in RB Global by 1,870.9% in the 1st quarter. Allworth Financial LP now owns 1,084 shares of the business services provider's stock valued at $107,000 after acquiring an additional 1,029 shares during the period. Institutional investors own 95.37% of the company's stock.

RB Global Price Performance

Shares of RBA traded up $0.04 during trading hours on Friday, hitting $108.30. 636,140 shares of the company were exchanged, compared to its average volume of 822,204. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The company has a market cap of $20.09 billion, a price-to-earnings ratio of 53.35, a P/E/G ratio of 2.50 and a beta of 0.75. The firm's fifty day moving average is $106.58 and its 200 day moving average is $100.87. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $111.71.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, May 29th. RB Global's dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of research analyst reports. Raymond James Financial lifted their price objective on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Royal Bank Of Canada set a $125.00 price objective on shares of RB Global and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. CIBC upped their target price on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. Finally, Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, RB Global has an average rating of "Moderate Buy" and an average price target of $116.21.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO James J. Jeter sold 2,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $106.96, for a total transaction of $213,920.00. Following the completion of the transaction, the executive owned 14,167 shares in the company, valued at approximately $1,515,302.32. The trade was a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,133 shares of company stock valued at $7,843,729. 4.32% of the stock is currently owned by corporate insiders.

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.