RB Global, Inc. $RBA Position Raised by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC has increased its stake in RB Global, Inc. by 15.2%, making it the firm's 6th largest position, valued at approximately $104.37 million.
• RB Global reported a quarterly earnings per share (EPS) of $1.07, surpassing analyst expectations of $0.95, with a year-over-year revenue increase of 8.2%.
• The company has announced an increase in its quarterly dividend to $0.31 per share, which reflects a dividend yield of 1.1% and a payout ratio of 61.39%.

Ancora Advisors LLC grew its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,040,608 shares of the business services provider's stock after acquiring an additional 137,223 shares during the period. RB Global accounts for approximately 2.3% of Ancora Advisors LLC's investment portfolio, making the stock its 6th biggest holding. Ancora Advisors LLC owned approximately 0.56% of RB Global worth $104,373,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SouthState Corp bought a new stake in shares of RB Global in the 1st quarter valued at $26,000. CoreCap Advisors LLC lifted its position in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after acquiring an additional 117 shares during the period. SVB Wealth LLC acquired a new position in shares of RB Global during the 1st quarter valued at $28,000. MV Capital Management Inc. lifted its position in shares of RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after acquiring an additional 278 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after acquiring an additional 279 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Down 0.9%

RBA traded down $1.01 during mid-day trading on Friday, reaching $115.02. 1,034,494 shares of the stock were exchanged, compared to its average volume of 969,611. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. The stock has a market capitalization of $21.34 billion, a PE ratio of 56.94, a price-to-earnings-growth ratio of 2.68 and a beta of 0.65. The company has a 50 day moving average price of $111.19 and a two-hundred day moving average price of $104.87. RB Global, Inc. has a 1 year low of $78.08 and a 1 year high of $118.23.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. As a group, research analysts anticipate 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 will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be given a $0.31 dividend. This is an increase from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 28th. RB Global's payout ratio is presently 61.39%.

Insiders Place Their Bets

In other RB Global news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was 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 of the company's stock, valued at approximately $622,687.05. The trade was a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of the business's stock in a transaction on 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 transaction, the insider directly owned 24,874 shares in the company, valued at approximately $2,736,140. This represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,558 shares of company stock valued at $6,314,145. Insiders own 4.32% of the company's stock.

Analyst Ratings Changes

RBA has been the topic of a number of research reports. Royal Bank Of Canada boosted their target price on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their target price on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. CIBC lifted their price target on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. National Bankshares lifted their price target on shares of RB Global from $112.00 to $113.00 and gave the company a "sector perform" 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. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.33.

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.