Park Avenue Securities LLC Invests $864,000 in RB Global, Inc. $RBA

Key Points

• Park Avenue Securities LLC invested approximately $864,000 in RB Global, Inc., buying 8,134 shares during the second quarter.
• RB Global has received multiple analyst upgrades, with price targets raised by firms such as National Bankshares and Raymond James, indicating a consensus rating of "Moderate Buy."
• The company recently increased its quarterly dividend from $0.29 to $0.31, resulting in an annualized yield of 1.2%.

Park Avenue Securities LLC purchased a new position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,134 shares of the business services provider's stock, valued at approximately $864,000.

Several other institutional investors and hedge funds also recently modified their holdings of RBA. Wealth Enhancement Advisory Services LLC grew its stake in shares of RB Global by 18.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider's stock worth $441,000 after purchasing an additional 752 shares in the last quarter. Versant Capital Management Inc boosted its stake in RB Global by 476.7% during the first quarter. Versant Capital Management Inc now owns 1,759 shares of the business services provider's stock valued at $176,000 after buying an additional 1,454 shares in the last quarter. GAMMA Investing LLC boosted its stake in RB Global by 12,802.6% during the first quarter. GAMMA Investing LLC now owns 161,282 shares of the business services provider's stock valued at $16,177,000 after buying an additional 160,032 shares in the last quarter. UMB Bank n.a. boosted its stake in RB Global by 121.1% during the first quarter. UMB Bank n.a. now owns 2,074 shares of the business services provider's stock valued at $208,000 after buying an additional 1,136 shares in the last quarter. Finally, MV Capital Management Inc. boosted its stake in 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 buying an additional 278 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

RBA has been the subject of several research reports. National Bankshares raised their target price on RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Raymond James Financial raised their target price on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. BMO Capital Markets raised 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. Finally, Royal Bank Of Canada raised their target price on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $124.33.

RB Global Trading Down 1.6%

Shares of NYSE RBA opened at $107.32 on Friday. RB Global, Inc. has a 12 month low of $78.08 and a 12 month high of $119.58. The company has a market cap of $19.92 billion, a price-to-earnings ratio of 53.13, a P/E/G ratio of 2.50 and a beta of 0.65. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $113.58 and a 200-day simple moving average of $106.36.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its 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 return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business posted $0.94 earnings per share. RB Global's revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were paid a $0.31 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $1.24 annualized dividend and a yield of 1.2%. This is an increase from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio (DPR) is currently 61.39%.

Insider Buying and Selling

In related news, 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 value of $5,022,380.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company's stock, valued at approximately $11,832,590. This represents a 29.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 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 value of $814,000.00. Following the completion of the sale, the insider directly owned 24,874 shares of the company's stock, valued at approximately $2,736,140. This represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,209 shares of company stock valued at $6,090,521. Corporate insiders own 4.32% of the company's stock.

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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