Riverbridge Partners LLC Cuts Stake in RB Global, Inc. (NYSE:RBA)

Riverbridge Partners LLC decreased its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 8.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,052,476 shares of the business services provider's stock after selling 178,458 shares during the quarter. RB Global makes up 3.3% of Riverbridge Partners LLC's investment portfolio, making the stock its 5th largest position. Riverbridge Partners LLC owned approximately 1.11% of RB Global worth $205,863,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RBA. Sanctuary Advisors LLC increased its stake in shares of RB Global by 5.1% in the fourth quarter. Sanctuary Advisors LLC now owns 6,188 shares of the business services provider's stock worth $563,000 after purchasing an additional 303 shares in the last quarter. Sunpointe LLC bought a new position in RB Global in the 4th quarter worth approximately $2,325,000. Coyle Financial Counsel LLC grew its stake in RB Global by 10.7% in the 4th quarter. Coyle Financial Counsel LLC now owns 23,528 shares of the business services provider's stock valued at $2,122,000 after buying an additional 2,271 shares in the last quarter. Advisor OS LLC raised its holdings in RB Global by 8.2% during the 4th quarter. Advisor OS LLC now owns 6,972 shares of the business services provider's stock valued at $629,000 after acquiring an additional 527 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of RB Global by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,510 shares of the business services provider's stock worth $3,384,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Price Performance

Shares of RBA stock traded up $0.16 during trading on Friday, hitting $104.77. The company had a trading volume of 1,783,948 shares, compared to its average volume of 1,088,165. The stock's 50-day moving average is $103.35 and its two-hundred day moving average is $97.74. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth ratio of 3.69 and a beta of 0.78. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 52 week low of $70.38 and a 52 week high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. RB Global's payout ratio is 57.14%.

Insiders Place Their Bets

In other news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the completion of the sale, the director now directly owns 5,865 shares in the company, valued at approximately $622,687.05. The trade was a 12.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 3,500 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $104.38, for a total value of $365,330.00. Following the transaction, the executive now directly owns 16,167 shares in the company, valued at $1,687,511.46. This trade represents a 17.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,075 shares of company stock valued at $2,007,349 over the last 90 days. Insiders own 4.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RBA shares. CIBC lifted their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. National Bankshares reduced their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Raymond James Financial boosted their price objective on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and a consensus target price of $114.50.

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.