RB Global, Inc. $RBA Position Lessened by Sei Investments Co.

Key Points

• Sei Investments reduced its RB Global position by 21.9% in the first quarter, selling 85,243 shares and retaining 303,912 shares worth approximately $29.1 million. Institutional investors collectively own 95.37% of the company.
• Analyst sentiment remains positive, with RB Global holding a consensus “Buy” rating and an average price target of $127.57. Recent targets range from $96 to $135, while one rating was downgraded to “Hold.”
• RB Global shares opened at $116.46, near their 12-month high, after the company reported quarterly EPS of $1.01, ahead of estimates. The company also raised its quarterly dividend from $0.31 to $0.33 per share, implying a 1.1% annual yield.

Sei Investments Co. decreased its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 21.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 303,912 shares of the business services provider's stock after selling 85,243 shares during the period. Sei Investments Co. owned 0.16% of RB Global worth $29,130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Personal CFO Solutions LLC increased its position in RB Global by 0.9% in the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider's stock worth $1,073,000 after purchasing an additional 96 shares during the last quarter. Covestor Ltd lifted its holdings in shares of RB Global by 11.6% during the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider's stock valued at $96,000 after buying an additional 97 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after buying an additional 97 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in shares of RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider's stock valued at $221,000 after buying an additional 105 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in shares of RB Global by 1.4% in the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider's stock valued at $866,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RBA. Stephens reaffirmed an "equal weight" rating and set a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. Barclays decreased their target price on shares of RB Global from $124.00 to $121.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. BMO Capital Markets restated an "outperform" rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Finally, National Bank Financial upped their price objective on shares of RB Global from $130.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $127.57.

Insider Buying and Selling at RB Global

In other news, Director Deborah Stein acquired 425 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the acquisition, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company's stock.

RB Global Stock Up 4.4%

Shares of RBA stock opened at $116.46 on Tuesday. The stock's 50 day simple moving average is $109.09 and its 200 day simple moving average is $106.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. RB Global, Inc. has a twelve month low of $93.58 and a twelve month high of $119.58. The company has a market capitalization of $21.59 billion, a price-to-earnings ratio of 54.17, a PEG ratio of 1.75 and a beta of 0.55.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.04. The firm had revenue of $888.01 million during the quarter, compared to analysts' expectations of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. As a group, research analysts predict that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, August 25th. This is a positive change from RB Global's previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. RB Global's dividend payout ratio is presently 57.67%.

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.

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