4,500 Shares in RB Global, Inc. $RBA Acquired by Maven Securities LTD

Key Points

• Maven Securities LTD acquired a new position in RB Global, purchasing 4,500 shares valued at approximately $451,000 during the first quarter.
• RB Global's stock has an average price target of $119.79 with four analysts rating it as a Buy and three as Hold.
• The company announced a quarterly dividend increase to $0.31, with a yield of 1.1%, and plans to pay shareholders on September 18th.

Maven Securities LTD bought a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,500 shares of the business services provider's stock, valued at approximately $451,000.

A number of other hedge funds have also recently modified their holdings of RBA. CoreCap Advisors LLC boosted its holdings in shares of 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. SouthState Corp purchased a new position in shares of RB Global in the 1st quarter worth about $26,000. MV Capital Management Inc. raised its position in shares of RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after purchasing an additional 278 shares during the last quarter. IFP Advisors Inc raised its position in shares of RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after purchasing an additional 279 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of RB Global by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

Insider Activity

In other news, CEO James Francis Kessler sold 45,658 shares of the company's stock in a transaction dated Monday, July 14th. The shares were 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 $11,832,590. This represents a 29.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the sale, 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 57,558 shares of company stock valued at $6,314,145 in the last quarter. 0.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

RBA has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. BMO Capital Markets increased their target price on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, CIBC increased their target price on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research note on Friday, July 18th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $119.79.

RB Global Stock Performance

NYSE:RBA traded down $1.1450 during mid-day trading on Monday, reaching $115.2250. The company's stock had a trading volume of 157,161 shares, compared to its average volume of 1,077,097. RB Global, Inc. has a 12-month low of $78.08 and a 12-month high of $118.23. The stock has a market cap of $21.38 billion, a P/E ratio of 57.06, a PEG ratio of 2.71 and a beta of 0.75. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The firm's fifty day moving average price is $109.18 and its two-hundred day moving average price is $103.59.

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 the consensus estimate of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders 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%. The ex-dividend date of this dividend is Thursday, August 28th. This is an increase from RB Global's previous quarterly dividend of $0.29. RB Global's payout ratio is currently 57.43%.

RB Global Company 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.