Blair William & Co. IL Has $82.65 Million Position in RB Global, Inc. $RBA

Key Points

• Blair William & Co. IL reduced its stake in RB Global, Inc. by 3.6%, holding approximately 778,279 shares valued at $82.65 million as of the latest filing.
• RB Global's stock recently reported an EPS of $1.07 for the quarter, surpassing analyst estimates by $0.12, while revenue increased by 8.2% year-over-year to $1.20 billion.
• The company announced a quarterly dividend of $0.31 per share, reflecting a boost from its previous dividend of $0.29, with a current dividend yield of 1.2%.

Blair William & Co. IL cut its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 778,279 shares of the business services provider's stock after selling 29,154 shares during the quarter. Blair William & Co. IL owned approximately 0.42% of RB Global worth $82,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RBA. SouthState Corp acquired a new position in RB Global in the 1st quarter worth about $26,000. SVB Wealth LLC acquired a new position in RB Global in the first quarter worth approximately $28,000. MV Capital Management Inc. lifted its stake in 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 acquiring an additional 278 shares during the last quarter. IFP Advisors Inc grew its position in RB Global by 348.8% in the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after acquiring an additional 279 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in shares of RB Global during the 1st quarter worth $38,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Performance

NYSE RBA opened at $105.73 on Thursday. The company's fifty day moving average is $113.41 and its two-hundred day moving average is $106.84. RB Global, Inc. has a 52-week low of $78.55 and a 52-week high of $119.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. The firm has a market capitalization of $19.63 billion, a price-to-earnings ratio of 52.34, a P/E/G ratio of 2.46 and a beta of 0.65.

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. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were issued 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 of this dividend was Thursday, August 28th. This is a boost from RB Global's previous quarterly dividend of $0.29. RB Global's payout ratio is 61.39%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RBA shares. Weiss Ratings raised shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Royal Bank Of Canada boosted 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. Raymond James Financial raised their price objective 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 boosted their target price on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, CIBC increased their price target on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, RB Global currently has an average rating of "Moderate Buy" and an average target price of $124.33.

Insider Activity

In related news, CEO James Francis Kessler sold 45,658 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $11,832,590. This represents a 29.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,209 shares of company stock worth $6,090,521. Company insiders own 4.32% of the company's stock.

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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