Blair William & Co. IL Trims Stock Position in RB Global, Inc. (NYSE:RBA)

Key Points

• Blair William & Co. IL has reduced its stake in RB Global, Inc. by 0.5%, now holding approximately 0.44% of the company, valued at $80.99 million.
• Multiple institutional investors, including CoreCap Advisors LLC and MV Capital Management Inc., have significantly increased their holdings in RB Global, with MV Capital Management growing its position by an astonishing 5,560%.
• RB Global recently announced a quarterly dividend of $0.29 per share, translating to an annualized amount of $1.16 and a dividend yield of 1.1%.

Blair William & Co. IL lessened its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 807,433 shares of the business services provider's stock after selling 3,968 shares during the period. Blair William & Co. IL owned approximately 0.44% of RB Global worth $80,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC raised its holdings in shares of 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 purchasing an additional 117 shares during the last quarter. MV Capital Management Inc. grew its position in RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after buying an additional 278 shares during the period. IFP Advisors Inc grew its position in RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after buying an additional 279 shares during the period. Nisa Investment Advisors LLC grew its position 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 period. Finally, Allworth Financial LP grew its position in RB Global by 1,870.9% during the first quarter. Allworth Financial LP now owns 1,084 shares of the business services provider's stock valued at $107,000 after buying an additional 1,029 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

RBA opened at $108.30 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The company has a market cap of $20.09 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 2.50 and a beta of 0.75. RB Global, Inc. has a 52-week low of $70.38 and a 52-week high of $111.71. The firm's fifty day simple moving average is $106.58 and its two-hundred day simple moving average is $100.95.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. Equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's dividend payout ratio (DPR) is currently 57.14%.

Insider Transactions at RB Global

In other news, insider Andrew John Fesler sold 9,075 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total value of $950,334.00. Following the transaction, the insider directly owned 5,532 shares of the company's stock, valued at approximately $579,311.04. This trade represents a 62.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of RB Global 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 transaction, the insider directly owned 24,874 shares in the company, valued at $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,133 shares of company stock valued at $7,843,729. Company insiders own 4.32% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on RBA. Royal Bank Of Canada set a $125.00 price target on shares of RB Global and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. National Bankshares decreased their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. CIBC increased their price objective on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a report on Friday, July 18th. Finally, Raymond James Financial increased their price objective on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $116.21.

RB Global 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.

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.