Ascent Group LLC Has $1.39 Million Stock Holdings in RB Global, Inc. $RBA

Key Points

• Ascent Group LLC increased its stake in RB Global, Inc. by 22.6% during Q1, owning a total of 13,834 shares valued at approximately $1.39 million.
• Several investment firms purchased new stakes in RB Global, including Samlyn Capital LLC, which acquired shares valued around $118.82 million.
• Analysts have recently boosted their price targets for RB Global, with the consensus now at $124.33, reflecting a generally positive outlook on the stock.

Ascent Group LLC grew its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 22.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,834 shares of the business services provider's stock after buying an additional 2,549 shares during the quarter. Ascent Group LLC's holdings in RB Global were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. SouthState Corp acquired a new stake in shares of RB Global during the 1st quarter worth about $26,000. CoreCap Advisors LLC raised its holdings in RB Global by 74.5% in 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 in the last quarter. SVB Wealth LLC acquired a new position in shares of RB Global during the 1st quarter worth $28,000. MV Capital Management Inc. increased its holdings in RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after purchasing an additional 278 shares in the last quarter. Finally, IFP Advisors Inc grew its position in RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Price Performance

Shares of RB Global stock traded up $0.33 on Monday, hitting $117.48. 202,836 shares of the company were exchanged, compared to its average volume of 1,066,747. The stock has a market capitalization of $21.80 billion, a price-to-earnings ratio of 58.28, a price-to-earnings-growth ratio of 2.72 and a beta of 0.65. The company has a 50-day moving average price of $112.28 and a 200 day moving average price of $105.41. RB Global, Inc. has a 1-year low of $78.08 and a 1-year high of $118.79. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business's revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be issued a $0.31 dividend. The ex-dividend date is Thursday, August 28th. This is an increase 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%. RB Global's payout ratio is 61.39%.

Analyst Ratings Changes

RBA has been the topic of several recent analyst reports. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. CIBC boosted their price objective on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research note on Friday, July 18th. Raymond James Financial increased their price target 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 lifted their target price on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets boosted their price objective on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.33.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 45,658 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the sale, the chief executive officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of RB Global stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the transaction, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.28% of the company's stock.

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.