RB Global, Inc. $RBA Shares Sold by Independent Franchise Partners LLP

Key Points

• Independent Franchise Partners LLP has reduced its holdings in RB Global, Inc. by 40.5%, now owning approximately 5.74 million shares valued at around $576 million, making it the 13th largest position in their portfolio.
• RB Global recently announced a quarterly dividend increase to $0.31 per share, with the ex-dividend date set for August 28th, resulting in an annualized yield of 1.1%.
• The company's stock price has shown strong performance, reaching a one-year high of $118.23 and reporting a 9.46% net margin with revenue of $1.20 billion in the latest quarter.

Independent Franchise Partners LLP decreased its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 40.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,745,840 shares of the business services provider's stock after selling 3,918,122 shares during the period. RB Global comprises approximately 4.1% of Independent Franchise Partners LLP's portfolio, making the stock its 13th largest position. Independent Franchise Partners LLP owned 3.10% of RB Global worth $576,308,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC lifted its position in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after purchasing an additional 117 shares during the last quarter. SouthState Corp purchased a new stake in shares of RB Global during the 1st quarter worth $26,000. MV Capital Management Inc. lifted its position in RB Global by 5,560.0% in the first 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 during the last quarter. SVB Wealth LLC purchased a new stake in RB Global in the first quarter valued at $28,000. Finally, IFP Advisors Inc lifted its position in RB Global by 348.8% in the first 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 during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of NYSE:RBA opened at $116.32 on Friday. The company has a 50-day simple moving average of $109.18 and a 200-day simple moving average of $103.50. RB Global, Inc. has a one year low of $78.08 and a one year high of $118.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. The stock has a market capitalization of $21.58 billion, a price-to-earnings ratio of 57.58, a PEG ratio of 2.71 and a beta of 0.75.

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

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.31 per share. 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 annualized dividend and a yield of 1.1%. RB Global's dividend payout ratio (DPR) is currently 57.43%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Raymond James Financial boosted their price target on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Royal Bank Of Canada boosted their price target on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. CIBC boosted their price target on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. BMO Capital Markets boosted their price target on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $119.79.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the sale, the insider owned 24,874 shares of the company's stock, valued at $2,736,140. This represents a 22.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam Dewitt sold 800 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the sale, the director directly owned 5,865 shares in the company, valued at $622,687.05. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,558 shares of company stock worth $6,314,145. 4.32% of the stock is owned by company insiders.

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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