Ashton Thomas Private Wealth LLC Has $771,000 Position in RB Global, Inc. $RBA

Key Points

• Ashton Thomas Private Wealth LLC significantly reduced its stake in RB Global, Inc. by 77.4%, selling 26,319 shares and holding only 7,690 shares valued at $771,000 following the sale.
• Insider trading activity includes the sale of shares by CEO James Francis Kessler and insider Darren Jeffrey Watt, with Kessler selling 45,658 shares for approximately $5.02 million.
• Analysts are optimistic about RB Global's growth, with BMO Capital Markets and Royal Bank Of Canada increasing their price targets to $130.00 and $132.00, respectively, maintaining an overall rating of "Moderate Buy."

Ashton Thomas Private Wealth LLC lessened its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 77.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,690 shares of the business services provider's stock after selling 26,319 shares during the period. Ashton Thomas Private Wealth LLC's holdings in RB Global were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Samlyn Capital LLC acquired a new position in shares of RB Global in the first quarter valued at $118,821,000. Third Point LLC acquired a new position in RB Global in the 1st quarter valued at about $95,285,000. Fiera Capital Corp grew its stake in RB Global by 17.3% in the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after buying an additional 557,407 shares during the last quarter. Nuveen LLC bought a new position in RB Global in the 1st quarter valued at about $54,584,000. Finally, Invesco Ltd. lifted its position in RB Global by 26.9% during the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock worth $244,360,000 after acquiring an additional 516,865 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. National Bankshares increased their price objective on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Royal Bank Of Canada raised their price target on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial boosted 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. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $124.33.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 107,569 shares of the company's stock, valued at approximately $11,832,590. The trade was a 29.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 4.32% of the stock is currently owned by insiders.

RB Global Price Performance

RB Global stock traded down $1.50 during trading hours on Friday, reaching $117.21. 949,227 shares of the stock were exchanged, compared to its average volume of 856,475. 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 twelve month low of $78.08 and a twelve month high of $118.79. The company has a market cap of $21.75 billion, a P/E ratio of 58.03, a price-to-earnings-growth ratio of 2.76 and a beta of 0.65. The stock has a 50 day moving average of $112.28 and a two-hundred day moving average of $105.38.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. The company had revenue of $1.20 billion during 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 firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. Equities analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio is 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.