Charles Schwab Investment Management Inc. Lowers Stock Holdings in RB Global, Inc. (NYSE:RBA)

Charles Schwab Investment Management Inc. trimmed its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,444,054 shares of the business services provider's stock after selling 6,745 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.78% of RB Global worth $144,858,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC grew its holdings in RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after buying an additional 117 shares in the last quarter. MV Capital Management Inc. boosted its position in shares of RB Global by 5,560.0% during the 1st 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 boosted its position in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after acquiring an additional 279 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings 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 valued at $106,000 after purchasing an additional 104 shares in the last quarter. Finally, Allworth Financial LP increased its position in RB Global by 1,870.9% in the first quarter. Allworth Financial LP now owns 1,084 shares of the business services provider's stock worth $107,000 after purchasing an additional 1,029 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RBA shares. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. National Bankshares boosted their target price on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their target price on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. CIBC lifted their price target on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research report on Friday, July 18th. Finally, BMO Capital Markets boosted their price objective on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, RB Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.79.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 45,658 shares of the stock in a transaction that occurred 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 sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $106.96, for a total value of $213,920.00. Following the sale, the executive directly owned 14,167 shares of the company's stock, valued at $1,515,302.32. This represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,558 shares of company stock worth $6,528,065 over the last three months. 0.28% of the stock is currently owned by corporate insiders.

RB Global Trading Down 0.5%

RBA stock traded down $0.59 during mid-day trading on Tuesday, reaching $116.74. 1,616,303 shares of the stock traded hands, compared to its average volume of 985,503. RB Global, Inc. has a one year low of $78.08 and a one year high of $117.76. The stock has a market capitalization of $21.66 billion, a PE ratio of 57.79, a PEG ratio of 2.72 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. The business has a 50-day moving average price of $107.60 and a two-hundred day moving average price of $102.05.

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

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders 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 dividend yield of 1.1%. This is a boost from RB Global's previous quarterly dividend of $0.29. The ex-dividend date is Thursday, August 28th. RB Global's dividend payout ratio (DPR) is presently 57.43%.

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.