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 reduced 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 Form 13F filing with the SEC. The institutional investor owned 22,080 shares of the business services provider's stock after selling 37,967 shares during the quarter. 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 have also recently added to or reduced their stakes in RBA. ProShare Advisors LLC grew its stake in RB Global by 7.4% in the fourth 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 period. State of Wyoming bought a new stake in RB Global during the fourth quarter worth $133,000. Vident Advisory LLC lifted its holdings in RB Global by 24.0% during the fourth quarter. Vident Advisory LLC now owns 3,585 shares of the business services provider's stock worth $323,000 after acquiring an additional 693 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of RB Global by 35.9% in the fourth 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 buying an additional 116,106 shares during the period. Finally, CTC Alternative Strategies Ltd. bought a new stake in shares of RB Global in the fourth quarter valued at $209,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Buying and Selling at RB Global

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the company'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 of the company's stock, valued at $2,736,140. The trade was a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,209 shares of company stock valued at $6,090,521 in the last 90 days. Insiders own 4.32% of the company's stock.

Wall Street Analysts Forecast Growth

RBA has been the topic of several research reports. Royal Bank Of Canada boosted their target price on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. CIBC boosted their target price on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research report on Friday, July 18th. BMO Capital Markets boosted their target price on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, National Bankshares boosted their target price on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $124.33.

RB Global Trading Up 0.9%

Shares of RBA stock opened at $118.94 on Friday. The business has a 50-day moving average of $113.43 and a 200 day moving average of $105.95. The stock has a market capitalization of $22.07 billion, a PE ratio of 58.88, a P/E/G ratio of 2.76 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global, Inc. has a 1-year low of $78.08 and a 1-year high of $119.58.

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, beating analysts' consensus estimates of $0.95 by $0.12. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.RB Global's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.0%. 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. RB Global's dividend payout ratio is currently 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.

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