RB Global, Inc. $RBA Position Cut by Vontobel Holding Ltd.

Key Points

• Vontobel Holding cut its RB Global position by 38.5% in the third quarter, selling 1.51 million shares and retaining 2.42 million shares valued at approximately $197.1 million. Institutional investors and hedge funds collectively own 95.37% of the company.
• RB Global shares traded at $84.47, near the lower end of their 52-week range, despite the company exceeding quarterly earnings and revenue expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $126.29.
• The company increased its quarterly dividend to $0.33 per share, or $1.32 annually, representing a 1.6% yield. Two directors also purchased shares, signaling some insider confidence.

Vontobel Holding Ltd. trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 38.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,421,315 shares of the business services provider's stock after selling 1,514,657 shares during the quarter. RB Global comprises 0.7% of Vontobel Holding Ltd.'s portfolio, making the stock its 29th biggest holding. Vontobel Holding Ltd. owned 1.34% of RB Global worth $197,071,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RBA. Personal CFO Solutions LLC lifted its position in shares of RB Global by 0.9% in the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider's stock worth $1,073,000 after buying an additional 96 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of RB Global by 4.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,516 shares of the business services provider's stock valued at $526,000 after acquiring an additional 175 shares during the last quarter. Wealth Alliance LLC increased its holdings in shares of RB Global by 5.0% during the 1st quarter. Wealth Alliance LLC now owns 3,928 shares of the business services provider's stock valued at $376,000 after acquiring an additional 186 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of RB Global by 3.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,352 shares of the business services provider's stock valued at $609,000 after acquiring an additional 197 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ raised its stake in shares of RB Global by 0.4% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 45,546 shares of the business services provider's stock valued at $4,354,000 after acquiring an additional 199 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Performance

Shares of NYSE:RBA traded down $2.66 during midday trading on Friday, hitting $84.47. The company's stock had a trading volume of 3,854,978 shares, compared to its average volume of 1,761,938. The stock has a market capitalization of $15.31 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 1.49 and a beta of 0.53. The stock's 50 day simple moving average is $84.34 and its 200 day simple moving average is $98.69. RB Global, Inc. has a fifty-two week low of $78.05 and a fifty-two week high of $119.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.21 billion. As a group, research analysts anticipate that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.6%. This is an increase from RB Global's previous quarterly dividend of $0.31. RB Global's dividend payout ratio (DPR) is presently 56.65%.

Insider Buying and Selling

In related news, Director Deborah Stein acquired 500 shares of the stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average price of $80.91 per share, for a total transaction of $40,455.00. Following the completion of the purchase, the director owned 2,325 shares in the company, valued at approximately $188,115.75. The trade was a 27.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chloe Harford acquired 1,200 shares of the stock in a transaction dated Monday, August 24th. The stock was bought at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the purchase, the director owned 1,200 shares of the company's stock, valued at $100,488. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RBA shares. Royal Bank Of Canada restated an "outperform" rating and issued a $152.00 target price on shares of RB Global in a report on Wednesday, September 23rd. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of RB Global in a report on Wednesday, August 5th. National Bank Financial increased their price target on RB Global from $130.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday. Raymond James Financial raised shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price target on the stock in a research report on Tuesday, June 30th. Finally, Barclays reduced their price objective on shares of RB Global from $121.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $126.29.

About RB Global

RB Global, Inc NYSE: RBA is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.

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