NFJ Investment Group LLC Acquires 71,187 Shares of RB Global, Inc. $RBA

Key Points

• NFJ Investment Group LLC increased its stake in RB Global, Inc. by 20.8%, owning approximately 413,137 shares worth about $41.4 million.
• Insider transactions include Darren Jeffrey Watt selling 7,400 shares and CEO James Francis Kessler selling 45,658 shares, indicating significant decreases in their ownership.
• RB Global recently declared a quarterly dividend of $0.31 per share, increasing from the previous $0.29, with an annualized yield of 1.1%.

NFJ Investment Group LLC lifted its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 20.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,137 shares of the business services provider's stock after buying an additional 71,187 shares during the period. RB Global comprises about 1.4% of NFJ Investment Group LLC's investment portfolio, making the stock its 15th largest holding. NFJ Investment Group LLC owned 0.22% of RB Global worth $41,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Securian Asset Management Inc. boosted its holdings in RB Global by 0.7% during the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock worth $1,408,000 after purchasing an additional 100 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings 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 valued at $106,000 after purchasing an additional 104 shares during the last quarter. Wealth Alliance LLC raised its holdings in RB Global by 2.7% in the 1st quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock valued at $399,000 after acquiring an additional 104 shares during the period. CoreCap Advisors LLC grew its holdings in RB Global by 74.5% in 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. Finally, Fullcircle Wealth LLC raised its holdings in RB Global by 5.5% in the 1st quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider's stock valued at $235,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Transactions at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of RB Global 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 $2,736,140. The trade was a 22.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Francis Kessler sold 45,658 shares of the 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 directly owned 107,569 shares in the company, 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. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. National Bankshares boosted their price target on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. CIBC increased their price target 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 boosted their price target on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. BMO Capital Markets lifted their target price on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.33.

RB Global Stock Performance

Shares of RBA traded up $0.00 during mid-day trading on Wednesday, hitting $116.30. The stock had a trading volume of 495,695 shares, compared to its average volume of 1,065,082. RB Global, Inc. has a 52 week low of $78.08 and a 52 week high of $118.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. The business has a fifty day moving average price of $111.58 and a 200-day moving average price of $105.05. The firm has a market cap of $21.58 billion, a P/E ratio of 57.53, a PEG ratio of 2.69 and a beta of 0.65.

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 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.12. The company 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%.The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. On average, equities research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

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