RB Global, Inc. $RBA Shares Bought by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in RB Global, Inc. by 2.6%, owning approximately 0.10% of the company, valued at $19.42 million.
• RB Global has announced a quarterly dividend increase from $0.29 to $0.31 per share, reflecting a positive change with an annualized yield of 1.1%.
• Insider transactions reveal significant sales, with CEO James Francis Kessler selling 45,658 shares, indicating a 29.80% decrease in personal ownership.

Northwest & Ethical Investments L.P. grew its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,376 shares of the business services provider's stock after purchasing an additional 4,886 shares during the period. Northwest & Ethical Investments L.P. owned approximately 0.10% of RB Global worth $19,420,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RBA. SouthState Corp bought a new stake in shares of RB Global during the first quarter valued at approximately $26,000. CoreCap Advisors LLC boosted its stake in shares of RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. MV Capital Management Inc. boosted its stake in shares of RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after purchasing an additional 278 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after purchasing an additional 279 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of RB Global by 10.9% during 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 in the last quarter. 95.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Adam Dewitt sold 800 shares of the 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 transaction, the director owned 5,865 shares in the company, valued at approximately $622,687.05. This represents a 12.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Francis Kessler sold 45,658 shares of the 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 in the company, valued at approximately $11,832,590. This trade represents a 29.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,558 shares of company stock worth $6,314,145. 4.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RBA shares. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. CIBC increased their price objective on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research note on Friday, July 18th. BMO Capital Markets increased their price objective on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bankshares increased their price objective on shares of RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, Raymond James Financial increased their price objective on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $119.79.

RB Global Stock Up 1.1%

NYSE RBA traded up $1.3020 during trading on Friday, hitting $116.9920. The company's stock had a trading volume of 250,809 shares, compared to its average volume of 1,081,465. The business's 50 day simple moving average is $108.98 and its 200-day simple moving average is $103.21. The company has a market cap of $21.71 billion, a PE ratio of 57.92, a P/E/G ratio of 2.68 and a beta of 0.75. 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 fifty-two week low of $78.08 and a fifty-two week high of $118.23.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. RB Global's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. On average, equities analysts anticipate 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. Investors of record on Thursday, August 28th will be issued a $0.31 dividend. This is a boost from RB Global's previous quarterly dividend of $0.29. The ex-dividend date is Thursday, August 28th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global's dividend 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.