Aviso Financial Inc. Has $9.37 Million Position in RB Global, Inc. $RBA

Key Points

• Aviso Financial Inc. has increased its stake in RB Global, Inc. by **15.2%**, acquiring an additional **12,306 shares**, bringing the total to **93,276 shares** worth approximately **$9.37 million**.
• RB Global reported an **earnings per share (EPS)** of **$1.07** for the most recent quarter, exceeding analyst expectations by **$0.12**, and generated **$1.20 billion** in revenue, an **8.2%** increase year-over-year.
• The company announced an increase in its quarterly dividend to **$0.31 per share**, up from **$0.29**, reflecting a **1.1%** dividend yield and is scheduled for payout on **September 18th**.

Aviso Financial Inc. raised its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,276 shares of the business services provider's stock after acquiring an additional 12,306 shares during the quarter. Aviso Financial Inc. owned about 0.05% of RB Global worth $9,365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. SouthState Corp bought a new position in RB Global during the 1st quarter worth approximately $26,000. CoreCap Advisors LLC raised its position in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after acquiring an additional 117 shares in the last quarter. MV Capital Management Inc. increased its holdings 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 valued at $28,000 after purchasing an additional 278 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of RB Global by 348.8% in the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after purchasing an additional 279 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

Insider Activity

In related news, insider Darren Jeffrey Watt sold 7,400 shares of RB Global stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the sale, the director directly owned 5,865 shares of the company's stock, valued at approximately $622,687.05. The trade was a 12.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,558 shares of company stock worth $6,314,145 in the last quarter. 4.32% of the stock is owned by corporate insiders.

RB Global Trading Up 0.5%

Shares of NYSE:RBA traded up $0.63 during mid-day trading on Friday, hitting $116.32. The company had a trading volume of 480,454 shares, compared to its average volume of 1,082,939. The firm has a fifty day moving average price of $108.98 and a 200 day moving average price of $103.21. The company has a market capitalization of $21.58 billion, a PE ratio of 57.58, a price-to-earnings-growth ratio of 2.68 and a beta of 0.75. 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, Inc. has a one year low of $78.08 and a one year high of $118.23.

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 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. RB Global's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. As a group, research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, August 28th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. This is an increase from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio (DPR) is presently 57.43%.

Analyst Upgrades and Downgrades

RBA has been the topic of several research reports. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. BMO Capital Markets raised their price target on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Robert W. Baird raised their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Raymond James Financial raised their price target on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $119.79.

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.