Avior Wealth Management LLC Purchases 11,333 Shares of RB Global, Inc. $RBA

Key Points

• Avior Wealth Management LLC significantly increased its stake in RB Global, purchasing an additional 11,333 shares, bringing its total holdings to 13,214 shares worth approximately $1.4 million.
• Several institutional investors have also raised their stakes in RB Global, with hedge funds now owning 95.37% of the company's stock.
• RB Global recently increased its quarterly dividend to $0.31 per share, reflecting an annualized dividend of $1.24 and a yield of 1.2%.

Avior Wealth Management LLC lifted its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 602.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,214 shares of the business services provider's stock after buying an additional 11,333 shares during the quarter. Avior Wealth Management LLC's holdings in RB Global were worth $1,403,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RBA. QRG Capital Management Inc. boosted its stake in shares of RB Global by 122.2% in the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock worth $770,000 after acquiring an additional 4,222 shares during the period. GAMMA Investing LLC lifted its holdings in shares of RB Global by 28.6% in the first quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock worth $161,000 after buying an additional 358 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of RB Global by 12.8% during the 1st quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider's stock valued at $3,389,000 after purchasing an additional 3,847 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in 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. Finally, Ascent Group LLC boosted its position in shares of RB Global by 22.6% during the 1st quarter. Ascent Group LLC now owns 13,834 shares of the business services provider's stock valued at $1,388,000 after acquiring an additional 2,549 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Activity

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction dated Monday, July 14th. The shares were 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 of the company's stock, valued at $11,832,590. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,209 shares of company stock valued at $6,090,521. 0.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

RB Global Stock Down 1.6%

Shares of NYSE RBA opened at $107.32 on Monday. RB Global, Inc. has a 1 year low of $78.08 and a 1 year high of $119.58. The firm has a 50-day simple moving average of $113.58 and a two-hundred day simple moving average of $106.44. The company has a market cap of $19.92 billion, a P/E ratio of 53.13, a PEG ratio of 2.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22.

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 the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company's revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts anticipate 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 paid a dividend of $0.31 per share. This is an increase from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 28th. RB Global's 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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