Diversified Trust Co Sells 37,967 Shares of RB Global, Inc. $RBA

Key Points

• Diversified Trust Co has decreased its holdings in RB Global, Inc. by 63.2%, selling 37,967 shares in the second quarter, leaving them with 22,080 shares valued at approximately $2.3 million.
• Institutional investors currently own 95.37% of RB Global's stock, with multiple hedge funds making recent adjustments to their positions, including UBS AM which increased its stake by 35.9%.
• RB Global announced a quarterly dividend of $0.31 per share, marking an increase from the previous dividend and resulting in an annualized yield of 1.0%.

Diversified Trust Co decreased its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 63.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,080 shares of the business services provider's stock after selling 37,967 shares during the period. Diversified Trust Co's holdings in RB Global were worth $2,345,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RBA. ProShare Advisors LLC raised its holdings in RB Global by 7.4% in the 4th quarter. ProShare Advisors LLC now owns 8,628 shares of the business services provider's stock valued at $778,000 after acquiring an additional 595 shares during the last quarter. State of Wyoming acquired a new stake in shares of RB Global during the 4th quarter worth approximately $133,000. Vident Advisory LLC increased its holdings in RB Global by 24.0% in the 4th quarter. Vident Advisory LLC now owns 3,585 shares of the business services provider's stock valued at $323,000 after purchasing an additional 693 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in RB Global by 35.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 439,101 shares of the business services provider's stock valued at $39,611,000 after purchasing an additional 116,106 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. acquired a new stake in RB Global in the 4th quarter valued at approximately $209,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on RBA. National Bankshares boosted their price target on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada increased their price target 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 shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research note on Friday, July 18th. Raymond James Financial lifted their target price on RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $124.33.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $2,736,140. The trade was a 22.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 107,569 shares of the company's stock, valued at approximately $11,832,590. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,209 shares of company stock valued at $6,090,521. 0.28% of the stock is currently owned by corporate insiders.

RB Global Stock Performance

Shares of RB Global stock traded down $1.63 during trading on Tuesday, reaching $113.19. The company's stock had a trading volume of 511,293 shares, compared to its average volume of 1,081,956. The firm has a market cap of $21.01 billion, a PE ratio of 56.03, a P/E/G ratio of 2.76 and a beta of 0.65. The business's 50-day moving average price is $113.54 and its 200-day moving average price is $106.09. RB Global, Inc. has a 52 week low of $78.08 and a 52 week high of $119.58. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46.

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 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. The business 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 9.42% and a net margin of 9.46%.RB Global's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global's payout ratio is presently 61.39%.

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.