Ritholtz Wealth Management Increases Position in RB Global, Inc. (NYSE:RBA)

Ritholtz Wealth Management boosted its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 65.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,952 shares of the business services provider's stock after purchasing an additional 4,322 shares during the quarter. Ritholtz Wealth Management's holdings in RB Global were worth $1,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in RB Global by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock worth $3,674,000 after purchasing an additional 113 shares during the period. CoreCap Advisors LLC increased 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 worth $25,000 after purchasing an additional 117 shares during the period. Jones Financial Companies Lllp boosted its position in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after acquiring an additional 129 shares in the last quarter. Claret Asset Management Corp boosted its position in RB Global by 1.6% during the 4th quarter. Claret Asset Management Corp now owns 10,233 shares of the business services provider's stock valued at $923,000 after acquiring an additional 163 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in RB Global by 4.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,762 shares of the business services provider's stock valued at $339,000 after acquiring an additional 176 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RBA has been the topic of several recent research reports. Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a research report on Saturday. CIBC raised their price objective on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. Robert W. Baird raised their price objective on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. 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 report on Thursday, May 8th. Finally, National Bankshares lowered their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $114.50.

RB Global Stock Performance

RBA traded up $0.16 on Friday, reaching $104.77. 1,783,948 shares of the stock were exchanged, compared to its average volume of 977,914. The company's 50-day moving average price is $103.51 and its 200 day moving average price is $97.78. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $109.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. The firm has a market capitalization of $19.40 billion, a PE ratio of 51.61, a PEG ratio of 3.70 and a beta of 0.78.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm's revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. RB Global's dividend payout ratio is currently 57.14%.

Insiders Place Their Bets

In other news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the completion of the transaction, the director now owns 5,865 shares of the company's stock, valued at $622,687.05. The trade was a 12.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO James J. Jeter sold 2,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the transaction, the executive now directly owns 14,167 shares of the company's stock, valued at approximately $1,515,302.32. This trade represents a 12.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,075 shares of company stock valued at $2,007,349. 4.32% of the stock is owned by company insiders.

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.