Alliancebernstein L.P. Decreases Stake in RB Global, Inc. $RBA

Key Points

• Alliancebernstein L.P. reduced its stake in RB Global, Inc. by 1.4%, selling 3,434 shares and now owning approximately 0.13% of the company valued at $24.8 million.
• Research analysts have mixed views on RB Global, with four analysts rating it as a Buy and two as Hold, while the average price target is set at $124.33.
• RB Global announced a quarterly dividend increase to $0.31 per share, reflecting a boost from the previous quarter's dividend of $0.29.

Alliancebernstein L.P. reduced its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,912 shares of the business services provider's stock after selling 3,434 shares during the quarter. Alliancebernstein L.P. owned 0.13% of RB Global worth $24,765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in RBA. QRG Capital Management Inc. lifted its position in shares of RB Global by 122.2% during the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock valued at $770,000 after buying an additional 4,222 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of RB Global by 28.6% during the first quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock valued at $161,000 after buying an additional 358 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of RB Global by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after buying an additional 104 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of RB Global during the fourth quarter valued at about $1,578,000. Finally, Vident Advisory LLC lifted its position in shares of RB Global by 24.0% during the fourth quarter. Vident Advisory LLC now owns 3,585 shares of the business services provider's stock valued at $323,000 after buying an additional 693 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. CIBC increased their price target on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Royal Bank Of Canada upped their price objective on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Raymond James Financial upped their price objective on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, National Bankshares upped their price objective on shares of RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $124.33.

RB Global Stock Performance

RB Global stock traded down $0.40 during mid-day trading on Monday, hitting $116.75. The company had a trading volume of 958,250 shares, compared to its average volume of 842,845. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a 12-month low of $78.08 and a 12-month high of $118.79. The company's fifty day moving average is $112.51 and its 200-day moving average is $105.51. The company has a market capitalization of $21.67 billion, a price-to-earnings ratio of 57.80, a P/E/G ratio of 2.72 and a beta of 0.65.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter last year, the company earned $0.94 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be paid a $0.31 dividend. This is a boost from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global's dividend payout ratio is 61.39%.

Insiders Place Their Bets

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider directly owned 24,874 shares of the company's stock, valued at $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,209 shares of company stock valued at $6,090,521 in the last three months. 0.28% of the stock is currently owned by insiders.

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.