Jane Street Group LLC Boosts Stock Position in RB Global, Inc. $RBA

Key Points

• Jane Street Group LLC significantly increased its ownership in RB Global, Inc. by 1,469.4%, acquiring a total of 365,071 shares valued at approximately $36.6 million.
• CEO James Francis Kessler and Director Adam Dewitt sold shares worth over $5 million and $84,000 respectively, resulting in a notable decrease in their ownership positions in the company.
• RB Global reported earnings of $1.07 per share for the last quarter, exceeding expectations, with revenue reaching $1.20 billion, a year-over-year increase of 8.2%.

Jane Street Group LLC boosted its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1,469.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,071 shares of the business services provider's stock after buying an additional 341,809 shares during the period. Jane Street Group LLC owned approximately 0.20% of RB Global worth $36,617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RBA. CoreCap Advisors LLC increased its position 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 buying an additional 117 shares in the last quarter. SouthState Corp bought a new stake in RB Global in the 1st quarter valued at about $26,000. MV Capital Management Inc. increased its position 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 valued at $28,000 after buying an additional 278 shares in the last quarter. SVB Wealth LLC bought a new stake in RB Global in the 1st quarter valued at about $28,000. Finally, IFP Advisors Inc increased 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 buying an additional 279 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Insider Activity at RB Global

In related news, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was 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 represents a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Francis Kessler sold 45,658 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares in the company, valued at approximately $11,832,590. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,558 shares of company stock worth $6,314,145. Insiders own 0.28% of the company's stock.

RB Global Stock Performance

Shares of RBA stock traded down $0.06 during trading on Monday, hitting $114.57. The company's stock had a trading volume of 805,743 shares, compared to its average volume of 1,045,899. The company has a market cap of $21.26 billion, a PE ratio of 56.72, a P/E/G ratio of 2.66 and a beta of 0.65. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $110.19 and a 200-day moving average of $104.33. RB Global, Inc. has a 52 week low of $78.08 and a 52 week high of $118.23.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.RB Global'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, research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be paid a $0.31 dividend. The ex-dividend date is Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global's dividend payout ratio (DPR) is currently 61.39%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Robert W. Baird boosted their price objective on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Royal Bank Of Canada boosted 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. Finally, National Bankshares boosted their price objective on RB Global from $112.00 to $113.00 and gave the stock 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.