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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Securian Asset Management Inc. raised its stake in shares of RB Global by 0.7% in the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock worth $1,408,000 after acquiring an additional 100 shares during the last quarter. Nisa Investment Advisors LLC raised its stake 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 worth $106,000 after acquiring an additional 104 shares during the last quarter. Wealth Alliance LLC raised its stake in shares of RB Global by 2.7% during the first quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock worth $399,000 after buying an additional 104 shares during the last quarter. CoreCap Advisors LLC raised its stake 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 buying an additional 117 shares during the last quarter. Finally, Fullcircle Wealth LLC grew its holdings in RB Global by 5.5% during the first quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider's stock valued at $235,000 after purchasing an additional 124 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Raymond James Financial boosted their price objective on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Finally, Royal Bank Of Canada upped their price target on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $118.64.

Insiders Place Their Bets

In related news, insider Darren Jeffrey Watt sold 7,400 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the transaction, the insider owned 24,874 shares in the company, valued at $2,736,140. The trade was a 22.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief executive officer owned 107,569 shares of the company's stock, valued at $11,832,590. This represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,133 shares of company stock worth $7,843,729. Insiders own 4.32% of the company's stock.

RB Global Stock Up 1.8%

RBA traded up $2.01 during mid-day trading on Thursday, reaching $110.79. 970,139 shares of the stock were exchanged, compared to its average volume of 1,070,229. RB Global, Inc. has a 1 year low of $77.79 and a 1 year high of $113.37. The company has a 50 day moving average price of $106.81 and a two-hundred day moving average price of $101.28. The stock has a market capitalization of $20.55 billion, a PE ratio of 54.58, a price-to-earnings-growth ratio of 2.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results 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 company 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 8.03% and a net margin of 9.68%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. As a group, research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. RB Global's payout ratio is presently 57.14%.

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.