New Age Alpha Advisors LLC Reduces Holdings in RB Global, Inc. (NYSE:RBA)

New Age Alpha Advisors LLC cut its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,433 shares of the business services provider's stock after selling 2,898 shares during the quarter. New Age Alpha Advisors LLC's holdings in RB Global were worth $3,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC boosted its holdings in 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 acquiring an additional 117 shares during the period. MV Capital Management Inc. grew its stake in shares of RB Global by 5,560.0% in the first 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 grew its stake in shares of RB Global by 348.8% in the first 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. Nisa Investment Advisors LLC grew its stake in shares of RB Global by 10.9% in the first 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. Finally, Allworth Financial LP grew its stake in shares of RB Global by 1,870.9% in the first quarter. Allworth Financial LP now owns 1,084 shares of the business services provider's stock worth $107,000 after purchasing an additional 1,029 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the completion of the transaction, the director directly owned 5,865 shares in the company, valued at $622,687.05. The trade was a 12.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale can be found here. Insiders sold 72,133 shares of company stock worth $7,843,729 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RBA. Raymond James Financial raised their target price on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Royal Bank Of Canada set a $125.00 price objective on shares of RB Global and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. National Bankshares lowered their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $116.21.

RB Global Price Performance

RBA stock opened at $109.60 on Wednesday. The firm has a 50 day moving average price of $106.73 and a 200-day moving average price of $101.23. RB Global, Inc. has a 52-week low of $71.99 and a 52-week high of $111.71. The firm has a market capitalization of $20.33 billion, a price-to-earnings ratio of 53.99, a PEG ratio of 2.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned $0.90 earnings per share. The business's revenue was up 4.1% on a year-over-year basis. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, May 29th. RB Global's dividend payout ratio (DPR) is presently 57.14%.

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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