Ritholtz Wealth Management Has $2.04 Million Stock Position in RB Global, Inc. $RBA

Key Points

• Ritholtz Wealth Management significantly increased its stake in RB Global, Inc. by 75.4% during Q2, holding a total of 19,207 shares valued at $2.04 million.
• Recent analyst ratings show a mix of downgrades and target price adjustments, with a consensus rating of "Moderate Buy" and a target price of $124.00 for RB Global.
• The company declared a quarterly dividend of $0.31, representing an increase from the previous quarter, with a current dividend yield of 1.2%.

Ritholtz Wealth Management grew its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 75.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,207 shares of the business services provider's stock after purchasing an additional 8,255 shares during the quarter. Ritholtz Wealth Management's holdings in RB Global were worth $2,040,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SouthState Corp acquired a new position in shares of RB Global during the 1st quarter worth approximately $26,000. SVB Wealth LLC acquired a new position in shares of RB Global during the 1st quarter worth approximately $28,000. IFP Advisors Inc increased its position in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after purchasing an additional 279 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of RB Global during the 1st quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. increased its position in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock worth $54,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on RBA shares. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. National Bankshares reduced their target price on RB Global from $113.00 to $111.00 and set a "sector perform" rating for the company in a research note on Thursday, October 9th. 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 target price on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets lifted their target price on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $124.00.

RB Global Stock Performance

RBA opened at $100.22 on Friday. The business has a fifty day simple moving average of $112.77 and a 200 day simple moving average of $107.01. The company has a market capitalization of $18.61 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.65. RB Global, Inc. has a 1 year low of $78.90 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly 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 business had revenue of $1.20 billion during 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 firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. Research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were paid a $0.31 dividend. This is a boost from RB Global's previous quarterly dividend of $0.29. The ex-dividend date was Thursday, August 28th. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global's dividend payout ratio is presently 61.39%.

Insider Buying and Selling at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.32% of the company's stock.

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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