Oppenheimer Asset Management Inc. Decreases Stake in RB Global, Inc. (NYSE:RBA)

Oppenheimer Asset Management Inc. cut its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 11.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,763 shares of the business services provider's stock after selling 26,812 shares during the period. Oppenheimer Asset Management Inc. owned 0.11% of RB Global worth $20,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of RB Global in the first quarter worth $534,000. Manning & Napier Advisors LLC acquired a new position in shares of RB Global in the 1st quarter valued at $1,313,000. Kentucky Retirement Systems purchased a new position in RB Global in the 1st quarter worth $1,254,000. Blue Trust Inc. lifted its position in RB Global by 44.3% during the 1st quarter. Blue Trust Inc. now owns 1,981 shares of the business services provider's stock worth $199,000 after acquiring an additional 608 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in RB Global by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 21,600 shares of the business services provider's stock valued at $2,166,000 after purchasing an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 3,500 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $104.38, for a total transaction of $365,330.00. Following the completion of the sale, the executive now directly owns 16,167 shares in the company, valued at approximately $1,687,511.46. The trade was a 17.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darren Jeffrey Watt sold 3,700 shares of RB Global stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $392,829.00. Following the completion of the sale, the insider now directly owns 24,874 shares in the company, valued at $2,640,872.58. This represents a 12.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,075 shares of company stock valued at $2,007,349. 4.32% of the stock is owned by corporate insiders.

RB Global Price Performance

Shares of RB Global stock traded up $0.82 on Thursday, hitting $105.48. The company's stock had a trading volume of 711,894 shares, compared to its average volume of 971,496. The company has a market capitalization of $19.53 billion, a price-to-earnings ratio of 51.96, a price-to-earnings-growth ratio of 3.73 and a beta of 0.78. RB Global, Inc. has a 1 year low of $70.38 and a 1 year high of $109.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. The firm has a fifty day moving average price of $104.12 and a 200-day moving average price of $98.00.

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, meeting the consensus estimate of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. RB Global's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently disclosed 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 1.10%. The ex-dividend date was Thursday, May 29th. RB Global's payout ratio is 57.14%.

Analyst Ratings Changes

Several brokerages have recently issued reports on RBA. Raymond James Financial raised their price objective on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of RB Global from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Robert W. Baird lifted their price objective on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. National Bankshares dropped their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, CIBC raised their target price on shares of RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

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.