Atria Wealth Solutions Inc. Has $335,000 Stake in RB Global, Inc. $RBA

Key Points

• Atria Wealth Solutions Inc. reduced its stake in RB Global, Inc. by 49% in Q2, after selling 3,033 shares, bringing its total holdings to 3,156 shares valued at approximately $335,000.
• Several institutional investors have increased their stakes in RB Global, with Massachusetts Financial Services Co. growing its holdings by 3.6%, now controlling over 10.24 million shares worth over $1 billion.
• RB Global recently raised its quarterly dividend from $0.29 to $0.31 per share, indicating a commitment to returning value to shareholders amidst a 61.39% payout ratio.

Atria Wealth Solutions Inc. decreased its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 49.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,156 shares of the business services provider's stock after selling 3,033 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in RB Global were worth $335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its stake in RB Global by 3.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock worth $1,027,191,000 after purchasing an additional 352,530 shares in the last quarter. Fiera Capital Corp boosted its stake in RB Global by 17.3% in the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock worth $379,150,000 after purchasing an additional 557,407 shares in the last quarter. Invesco Ltd. boosted its stake in RB Global by 26.9% in the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock worth $244,360,000 after purchasing an additional 516,865 shares in the last quarter. Wellington Management Group LLP boosted its stake in RB Global by 1.1% in the first quarter. Wellington Management Group LLP now owns 1,854,476 shares of the business services provider's stock worth $186,098,000 after purchasing an additional 19,543 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in RB Global by 44.4% in the first quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider's stock worth $151,331,000 after purchasing an additional 463,844 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RBA shares. Royal Bank Of Canada boosted their price objective on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Raymond James Financial upped their price target on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bankshares cut their price target on RB Global from $113.00 to $111.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 9th. Finally, Weiss Ratings raised RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $124.00.

Insider Activity

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.32% of the company's stock.

RB Global Trading Up 0.7%

Shares of RBA opened at $99.69 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a 12-month low of $80.98 and a 12-month high of $119.58. The firm has a market capitalization of $18.51 billion, a PE ratio of 49.35, a price-to-earnings-growth ratio of 2.30 and a beta of 0.65. The stock's fifty day simple moving average is $112.11 and its 200-day simple moving average is $107.16.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released 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 business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The firm's revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, August 28th. This is an increase from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio is presently 61.39%.

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.

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