Arlington Partners LLC Lowers Position in RB Global, Inc. $RBA

Key Points

• Arlington Partners LLC reduced its stake in RB Global, Inc. by 9.9%, selling 4,623 shares in the second quarter, leaving them with 42,057 shares valued at $4.47 million.
• RB Global recently declared a quarterly dividend of $0.31 per share, up from the previous $0.29, resulting in an annualized yield of 1.0%.
• The company reported $1.07 earnings per share for the last quarter, exceeding expectations, with revenue of $1.20 billion, reflecting an 8.2% year-over-year increase.

Arlington Partners LLC reduced its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,057 shares of the business services provider's stock after selling 4,623 shares during the quarter. RB Global accounts for about 1.6% of Arlington Partners LLC's holdings, making the stock its 29th largest holding. Arlington Partners LLC's holdings in RB Global were worth $4,466,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SouthState Corp bought a new stake in shares of RB Global during the 1st quarter valued at $26,000. SVB Wealth LLC bought a new stake in RB Global during the first quarter valued at about $28,000. MV Capital Management Inc. boosted 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 worth $28,000 after purchasing an additional 278 shares during the period. IFP Advisors Inc raised its holdings in RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after acquiring an additional 279 shares during the period. Finally, Rise Advisors LLC bought a new position in RB Global in the 1st quarter worth approximately $38,000. 95.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the transaction, the insider directly owned 24,874 shares of the company's stock, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the sale, the chief executive officer owned 107,569 shares in the company, valued at $11,832,590. The trade was a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,209 shares of company stock worth $6,090,521 in the last 90 days. Company insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RBA shares. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. CIBC boosted their target price on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research note on Friday, July 18th. Raymond James Financial raised their target price on RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada increased their price target on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets upped their price objective on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $124.33.

RB Global Stock Down 3.3%

Shares of RBA traded down $3.94 during mid-day trading on Monday, hitting $114.97. 1,797,710 shares of the company's stock were exchanged, compared to its average volume of 1,014,086. The stock's 50-day moving average is $113.54 and its 200-day moving average is $106.09. The company has a market cap of $21.34 billion, a price-to-earnings ratio of 56.91, a P/E/G ratio of 2.76 and a beta of 0.65. RB Global, Inc. has a fifty-two week low of $78.08 and a fifty-two week high of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS. On average, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.1%. This is a positive change from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, August 28th. RB Global's dividend payout ratio is presently 61.39%.

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.