RB Global, Inc. $RBA Stock Holdings Cut by Diversified Trust Co

Key Points

• Diversified Trust Co cut its RB Global stake by 42.3% in the first quarter, reducing holdings to 16,786 shares worth about $1.61 million.
• RB Global reported better-than-expected quarterly results, with EPS of $1.01 versus $0.97 expected and revenue of $1.21 billion, up 11.4% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $126.12; the shares recently traded around $108.84.

Diversified Trust Co cut its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 42.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 16,786 shares of the business services provider's stock after selling 12,318 shares during the quarter. Diversified Trust Co's holdings in RB Global were worth $1,609,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. MV Capital Management Inc. acquired a new position in RB Global during the fourth quarter worth about $29,000. Bayban bought a new stake in RB Global in the fourth quarter worth about $34,000. Central Pacific Bank Trust Division lifted its holdings in RB Global by 41.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock valued at $37,000 after acquiring an additional 107 shares during the last quarter. State of Wyoming bought a new position in shares of RB Global during the 2nd quarter valued at about $46,000. Finally, Nemes Rush Group LLC acquired a new position in shares of RB Global in the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Insiders Place Their Bets

In other news, Director Deborah Stein purchased 425 shares of the business's stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the purchase, the director directly owned 1,825 shares of the company's stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RBA has been the subject of several recent research reports. Weiss Ratings restated a "buy (b-)" rating on shares of RB Global in a report on Tuesday, May 26th. Barclays initiated coverage on RB Global in a research note on Thursday, May 28th. They set an "overweight" rating and a $124.00 price objective for the company. Royal Bank Of Canada boosted their target price on RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. BMO Capital Markets reiterated an "outperform" rating and issued a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Stephens reissued an "equal weight" rating and issued a $96.00 price target on shares of RB Global in a research note on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $126.12.

RB Global Trading Down 1.6%

Shares of NYSE:RBA opened at $108.84 on Tuesday. The firm has a fifty day moving average of $105.12 and a two-hundred day moving average of $104.89. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. RB Global, Inc. has a 12-month low of $93.58 and a 12-month high of $119.58. The firm has a market capitalization of $20.24 billion, a P/E ratio of 50.63, a price-to-earnings-growth ratio of 1.76 and a beta of 0.57.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $0.89 earnings per share. RB Global's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts expect that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. RB Global's dividend payout ratio is presently 57.67%.

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.

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