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

Several other large investors have also bought and sold shares of RBA. CoreCap Advisors LLC lifted its stake in 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 in the last quarter. SouthState Corp bought a new position in RB Global during the 1st quarter valued at $26,000. MV Capital Management Inc. lifted its stake in 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 in the last quarter. SVB Wealth LLC bought a new position in RB Global during the 1st quarter valued at $28,000. Finally, IFP Advisors Inc lifted its stake in 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 in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Raymond James Financial lifted their target price on RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada lifted their price objective on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. BMO Capital Markets lifted their price objective on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Finally, National Bankshares lifted their target price on RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.33.

Insider Transactions at RB Global

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction dated 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 sale, the insider owned 24,874 shares of the company's stock, valued at approximately $2,736,140. The trade was a 22.93% decrease in their position. The disclosure for this sale can be found here. 4.32% of the stock is currently owned by corporate insiders.

RB Global Stock Performance

Shares of NYSE:RBA traded down $1.50 during midday trading on Friday, reaching $117.21. 949,227 shares of the company's stock traded hands, compared to its average volume of 856,475. The company has a market cap of $21.75 billion, a price-to-earnings ratio of 58.03, a P/E/G ratio of 2.76 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. RB Global, Inc. has a one year low of $78.08 and a one year high of $118.79. The stock has a 50 day moving average of $112.28 and a 200 day moving average of $105.34.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 return on equity of 9.42% and a net margin of 9.46%.The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS 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. Shareholders of record on Thursday, August 28th will be issued a $0.31 dividend. 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 dividend payout ratio is currently 61.39%.

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.