Ancora Advisors LLC Boosts Stock Position in RB Global, Inc. $RBA

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 lifted its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040,608 shares of the business services provider's stock after purchasing an additional 137,223 shares during the period. RB Global accounts for approximately 2.3% of Ancora Advisors LLC's holdings, making the stock its 6th largest position. Ancora Advisors LLC owned about 0.56% of RB Global worth $104,373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. raised its holdings in RB Global by 122.2% in the 1st quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock valued at $770,000 after acquiring an additional 4,222 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of RB Global by 28.6% during the first quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock worth $161,000 after purchasing an additional 358 shares during the period. Nisa Investment Advisors LLC grew its position in RB Global by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after buying an additional 104 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of RB Global in the fourth quarter worth approximately $1,578,000. Finally, Vident Advisory LLC increased its position in RB Global by 24.0% during the fourth quarter. Vident Advisory LLC now owns 3,585 shares of the business services provider's stock worth $323,000 after acquiring an additional 693 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other RB Global news, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the transaction, the director owned 5,865 shares in the company, valued at approximately $622,687.05. This trade represents a 12.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction 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 transaction, the chief executive officer directly owned 107,569 shares in the company, valued at $11,832,590. This represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,558 shares of company stock worth $6,314,145. Corporate insiders own 0.28% of the company's stock.

RB Global Stock Performance

Shares of NYSE:RBA traded down $0.57 during trading on Monday, reaching $114.48. 316,245 shares of the company's stock traded hands, compared to its average volume of 1,066,696. RB Global, Inc. has a 12 month low of $78.08 and a 12 month high of $118.23. The stock has a market capitalization of $21.25 billion, a P/E ratio of 56.66, a price-to-earnings-growth ratio of 2.68 and a beta of 0.65. The company has a 50 day moving average of $111.19 and a 200-day moving average of $104.88. 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 (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 the consensus estimate of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. 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 firm earned $0.94 EPS. RB Global's quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that RB Global, Inc. will post 2.5 EPS for the current 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 given a dividend of $0.31 per share. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 28th. RB Global's payout ratio is 61.39%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBA. National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. 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. National Bankshares upped their price objective on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. BMO Capital Markets raised their price objective on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, CIBC lifted their price objective on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $124.33.

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.