Corient Private Wealth LP Purchases New Holdings in RB Global, Inc. $RBA

Key Points

• Corient Private Wealth acquired 24,050 RB Global shares in the second quarter, valued at approximately $2.8 million. Institutional investors collectively own 95.37% of the company.
• RB Global shares fell 2.2% to $82.74, near their one-year low, despite the company exceeding quarterly earnings expectations with $1.13 in EPS and $1.66 billion in revenue.
• The company raised its quarterly dividend from $0.31 to $0.33 per share, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $128.

Corient Private Wealth LP acquired a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 24,050 shares of the business services provider's stock, valued at approximately $2,801,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RBA. Personal CFO Solutions LLC increased its holdings in shares of RB Global by 0.9% in the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider's stock valued at $1,073,000 after purchasing an additional 96 shares during the period. Covestor Ltd lifted its holdings in shares of RB Global by 11.6% during the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider's stock worth $96,000 after purchasing an additional 97 shares during the period. Geneos Wealth Management Inc. grew its position in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after buying an additional 97 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider's stock valued at $221,000 after buying an additional 105 shares during the period. Finally, Sigma Planning Corp increased its stake in RB Global by 1.4% in the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider's stock valued at $866,000 after buying an additional 114 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Trading Down 2.2%

NYSE:RBA opened at $82.74 on Wednesday. The stock has a fifty day moving average price of $102.30 and a two-hundred day moving average price of $102.62. The stock has a market capitalization of $15.32 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 1.44 and a beta of 0.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. RB Global, Inc. has a 1 year low of $82.03 and a 1 year high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. As a group, sell-side analysts anticipate that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a $0.33 dividend. 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 1.6%. The ex-dividend date is Tuesday, August 25th. RB Global's dividend payout ratio (DPR) is 56.65%.

Insider Buying and Selling at RB Global

In other news, Director Chloe Harford purchased 1,200 shares of the business's stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $83.74 per share, with a total value of $100,488.00. Following the purchase, the director directly owned 1,200 shares of the company's stock, valued at $100,488. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RBA has been the subject of a number of analyst reports. Stephens restated an "equal weight" rating and set a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Zacks Research lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Royal Bank Of Canada increased their price target on shares of RB Global from $150.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings downgraded shares of RB Global from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $128.00.

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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