RB Global, Inc. (NYSE:RBA) Stake Lifted by Klein Pavlis & Peasley Financial Inc.

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its holdings in RB Global, Inc. by 7.0% in the first quarter, now owning 48,534 shares valued at approximately $4.87 million.
• Multiple institutional investors have also made significant investments in RB Global, with Alberta Investment Management Corp buying a position worth approximately $7.53 million.
• Insider selling activity includes CEO James Francis Kessler, who sold 45,658 shares for over $5 million, reducing his ownership by 29.80%.

Klein Pavlis & Peasley Financial Inc. increased its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,534 shares of the business services provider's stock after purchasing an additional 3,171 shares during the quarter. RB Global makes up about 3.5% of Klein Pavlis & Peasley Financial Inc.'s investment portfolio, making the stock its 5th largest holding. Klein Pavlis & Peasley Financial Inc.'s holdings in RB Global were worth $4,871,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in RB Global by 9.8% in the fourth quarter. American Century Companies Inc. now owns 48,079 shares of the business services provider's stock worth $4,339,000 after acquiring an additional 4,303 shares in the last quarter. LPL Financial LLC boosted its holdings in RB Global by 2.1% in the fourth quarter. LPL Financial LLC now owns 70,325 shares of the business services provider's stock worth $6,344,000 after acquiring an additional 1,462 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in RB Global by 17.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,185 shares of the business services provider's stock worth $468,000 after acquiring an additional 763 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in RB Global by 7.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,898 shares of the business services provider's stock worth $1,344,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in RB Global by 9.6% in the fourth quarter. Franklin Resources Inc. now owns 13,777 shares of the business services provider's stock worth $1,242,000 after acquiring an additional 1,209 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on RBA shares. CIBC boosted their target price on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. Royal Bank Of Canada set a $125.00 price target on RB Global and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Raymond James Financial boosted their price target on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Finally, National Bankshares decreased their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.21.

RB Global Stock Performance

Shares of RBA traded up $0.04 during trading hours on Friday, hitting $108.30. The stock had a trading volume of 636,140 shares, compared to its average volume of 854,011. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. RB Global, Inc. has a 12 month low of $70.38 and a 12 month high of $111.71. The firm has a market capitalization of $20.09 billion, a PE ratio of 53.35, a PEG ratio of 2.50 and a beta of 0.75. The stock has a fifty day moving average price of $106.58 and a 200 day moving average price of $101.03.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. RB Global's revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's payout ratio is currently 57.14%.

Insider Buying and Selling at RB Global

In other RB Global news, 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 transaction of $5,022,380.00. Following the completion of the sale, the chief executive officer owned 107,569 shares of the company's stock, valued at approximately $11,832,590. The trade was a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Adam Dewitt sold 800 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were 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 of the company's stock, valued at $622,687.05. This represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,133 shares of company stock valued at $7,843,729 in the last ninety days. 0.28% of the stock is currently owned by company insiders.

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.