Champlain Investment Partners LLC Reduces Stock Holdings in RB Global, Inc. $RBA

Key Points

• Champlain Investment Partners LLC reduced its stake in RB Global, Inc. by 2.3%, owning approximately 0.50% of the company, valued at $92.49 million after selling 21,447 shares.
• Insider Darren Jeffrey Watt sold 7,400 shares of RB Global, marking a 22.93% decrease in his ownership, while total insider sales in the last ninety days reached over $6.31 million.
• Research analysts have raised their price targets for RB Global, with Raymond James increasing it from $125.00 to $135.00, indicating a generally favorable outlook for the stock, which holds a consensus rating of "Moderate Buy."

Champlain Investment Partners LLC lessened its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 922,109 shares of the business services provider's stock after selling 21,447 shares during the period. Champlain Investment Partners LLC owned 0.50% of RB Global worth $92,488,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp purchased a new stake in shares of RB Global in the first quarter worth $26,000. CoreCap Advisors LLC raised its position in shares of RB Global by 74.5% in 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 in the last quarter. SVB Wealth LLC bought a new position in RB Global in the first quarter valued at $28,000. MV Capital Management Inc. raised 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 purchasing an additional 278 shares in the last quarter. Finally, IFP Advisors Inc raised 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 purchasing an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Buying and Selling

In other news, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the sale, the director directly owned 5,865 shares in the company, valued at approximately $622,687.05. This trade represents a 12.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Darren Jeffrey Watt sold 7,400 shares of the business's stock in a transaction that occurred 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 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. Insiders have sold a total of 57,558 shares of company stock worth $6,314,145 in the last ninety days. 0.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of research reports. Royal Bank Of Canada upped their price objective on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. BMO Capital Markets increased their price objective on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. CIBC increased their price objective on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. Finally, Robert W. Baird increased their price objective on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $124.33.

RB Global Trading Down 0.1%

RBA traded down $0.06 on Monday, hitting $114.57. 805,743 shares of the company were exchanged, compared to its average volume of 1,045,899. The firm has a fifty day simple moving average of $110.19 and a two-hundred day simple moving average of $104.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. RB Global, Inc. has a 12 month low of $78.08 and a 12 month high of $118.23. The stock has a market capitalization of $21.26 billion, a PE ratio of 56.72, a price-to-earnings-growth ratio of 2.66 and a beta of 0.65.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company earned $0.94 EPS. RB Global's revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio is 61.39%.

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.