Cetera Investment Advisers Has $3.44 Million Stock Position in RB Global, Inc. $RBA

Key Points

• Cetera Investment Advisers cut its RB Global stake by 27.6% in the first quarter, selling 13,663 shares and retaining 35,877 shares valued at approximately $3.44 million. Institutional investors collectively own 95.37% of the company.
• RB Global reported quarterly earnings of $1.13 per share, exceeding estimates of $1.09, while revenue reached $1.66 billion versus the $1.21 billion consensus. The company also raised its quarterly dividend from $0.31 to $0.33 per share.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $128 price target, although shares were down 13.6% and recently opened at $95.99. Royal Bank of Canada and National Bank Financial raised their price targets, while Barclays reduced its target but maintained an overweight rating.

Cetera Investment Advisers lowered its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 27.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 35,877 shares of the business services provider's stock after selling 13,663 shares during the period. Cetera Investment Advisers' holdings in RB Global were worth $3,439,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RBA. Massachusetts Financial Services Co. MA increased its holdings in RB Global by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider's stock valued at $1,120,479,000 after purchasing an additional 165,260 shares during the period. Wilson Asset Management International PTY Ltd. lifted its holdings in RB Global by 8.5% during the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 139,295 shares of the business services provider's stock worth $14,329,000 after buying an additional 10,951 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in RB Global by 20.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 173,358 shares of the business services provider's stock worth $17,833,000 after buying an additional 29,530 shares during the period. Tectonic Advisors LLC grew its position in shares of RB Global by 78.3% in the 4th quarter. Tectonic Advisors LLC now owns 59,867 shares of the business services provider's stock valued at $6,159,000 after buying an additional 26,286 shares during the last quarter. Finally, K.J. Harrison & Partners Inc increased its stake in shares of RB Global by 55.3% in the fourth quarter. K.J. Harrison & Partners Inc now owns 93,723 shares of the business services provider's stock valued at $9,663,000 after buying an additional 33,374 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RBA shares. Royal Bank Of Canada lifted their price objective on RB Global from $150.00 to $152.00 and gave the stock an "outperform" rating in a research note on Wednesday. National Bank Financial raised their price target on shares of RB Global from $132.00 to $133.00 and gave the stock an "outperform" rating in a report on Wednesday. Barclays dropped their price target on shares of RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of RB Global from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. Finally, Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $128.00.

RB Global Stock Down 13.6%

Shares of NYSE:RBA opened at $95.99 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. RB Global, Inc. has a 52-week low of $93.58 and a 52-week high of $119.58. The business's 50 day simple moving average is $109.92 and its two-hundred day simple moving average is $106.45. The firm has a market cap of $17.77 billion, a P/E ratio of 41.20, a PEG ratio of 2.27 and a beta of 0.56.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, research analysts forecast that RB Global, Inc. will post 4.16 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. This is an increase from RB Global's previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 25th. RB Global's dividend payout ratio is 57.67%.

Insider Activity at RB Global

In other RB Global news, Director Deborah Stein bought 425 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the acquisition, the director directly owned 1,825 shares of the company's stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by insiders.

More RB Global News

Here are the key news stories impacting RB Global this week:

• Positive Sentiment: Quarterly earnings and revenue beat estimates. RB Global reported adjusted earnings of $1.13 per share, above the $1.09 consensus and up from $1.07 a year earlier. Revenue reached $1.66 billion versus expectations of $1.21 billion, providing a favorable fundamental backdrop. RB Global Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Analysts raised their price targets and maintained bullish ratings. National Bank Financial increased its target from $132 to $133 and assigned an “outperform” rating. Royal Bank of Canada raised its target from $150 to $152, also with an “outperform” rating. These targets imply meaningful upside from the recent trading level. RB Global Analyst Ratings
• Positive Sentiment: Management’s earnings presentation and conference call offer additional details on the quarter and outlook. Investors are reviewing the company’s Q2 materials following the earnings release. RB Global Q2 Results Presentation
• Neutral Sentiment: The market reaction has been negative despite the earnings beat. The supplied reports do not identify a specific operational disappointment, suggesting investors may be weighing valuation, forward expectations, or taking profits after the results. RB Global trades at a relatively high trailing P/E of approximately 44.7.

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.

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