Tectonic Advisors LLC Acquires 26,286 Shares of RB Global, Inc. $RBA

Key Points

• Tectonic Advisors LLC raised its stake in RB Global by 78.3% in Q4, buying 26,286 shares to hold 59,867 shares valued at $6.16 million; institutional investors now own 95.37% of the stock.
• CEO James Francis Kessler sold 20,742 shares at about $115 (reducing his position roughly 16.2%), while Director Deborah Stein purchased 400 shares at $98.74 (increasing her holding by 40%).
• RB Global beat Q results with $1.11 EPS vs $0.99 expected and $1.20B revenue vs $1.17B, and several analysts raised targets—consensus rating is a Buy with an average target of $129.29.

Tectonic Advisors LLC raised its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 78.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,867 shares of the business services provider's stock after purchasing an additional 26,286 shares during the quarter. Tectonic Advisors LLC's holdings in RB Global were worth $6,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division grew its stake 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 purchasing an additional 107 shares during the period. Spire Wealth Management grew its stake in shares of RB Global by 1,090.6% during the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider's stock worth $41,000 after acquiring an additional 349 shares during the period. State of Wyoming bought a new position in shares of RB Global during the 2nd quarter worth $46,000. Geneos Wealth Management Inc. grew its stake 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 acquiring an additional 97 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider's stock worth $59,000 after acquiring an additional 204 shares during the period. Institutional investors own 95.37% of the company's stock.

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of the firm's stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the sale, the chief executive officer owned 107,569 shares of the company's stock, valued at $12,370,435. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Deborah Stein purchased 400 shares of the stock in a transaction on Wednesday, March 18th. The stock was acquired at an average cost of $98.74 per share, for a total transaction of $39,496.00. Following the acquisition, the director owned 1,400 shares in the company, valued at approximately $138,236. This represents a 40.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

RBA has been the subject of several research reports. BMO Capital Markets increased their price target on RB Global from $135.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 18th. Raymond James Financial increased their price target on RB Global from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 20th. Weiss Ratings upgraded RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada raised their target price on RB Global from $137.00 to $146.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $129.29.

RB Global Stock Down 0.0%

Shares of NYSE RBA opened at $103.28 on Monday. RB Global, Inc. has a 52 week low of $93.58 and a 52 week high of $119.58. The business has a 50-day simple moving average of $102.49 and a two-hundred day simple moving average of $103.61. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The company has a market cap of $19.20 billion, a P/E ratio of 50.63, a P/E/G ratio of 1.57 and a beta of 0.57.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $0.95 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global's dividend payout ratio (DPR) is presently 60.78%.

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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