Tectonic Advisors LLC Trims Stock Holdings in RB Global, Inc. $RBA

Key Points

• Tectonic Advisors LLC has reduced its holdings in RB Global, Inc. by 29%, now owning 50,297 shares valued at approximately $5.34 million.
• Analysts upgraded RB Global's stock rating from "hold" to "buy", with a consensus price target of $124.33.
• RB Global recently announced a quarterly dividend increase to $0.31 per share, representing an annual yield of 1.2%.

Tectonic Advisors LLC decreased its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 29.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,297 shares of the business services provider's stock after selling 20,536 shares during the period. Tectonic Advisors LLC's holdings in RB Global were worth $5,341,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Securian Asset Management Inc. lifted its position in RB Global by 0.7% during the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock valued at $1,408,000 after purchasing an additional 100 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of RB Global by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after acquiring an additional 104 shares during the last quarter. Wealth Alliance LLC lifted its holdings in shares of RB Global by 2.7% in the 1st quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock worth $399,000 after acquiring an additional 104 shares during the last quarter. Finally, Fullcircle Wealth LLC lifted its holdings in shares of RB Global by 5.5% in the 1st quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider's stock worth $235,000 after acquiring an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RBA shares. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Royal Bank Of Canada boosted their price objective on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. CIBC boosted their price objective on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. National Bankshares boosted their price objective on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Weiss Ratings upgraded shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, RB Global has a consensus rating of "Moderate Buy" and a consensus price target of $124.33.

RB Global Stock Down 0.0%

Shares of NYSE RBA opened at $105.73 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. The firm's fifty day moving average is $113.41 and its 200 day moving average is $106.84. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 52.34, a PEG ratio of 2.46 and a beta of 0.65. RB Global, Inc. has a 52 week low of $78.55 and a 52 week high of $119.58.

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

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 28th. This is an increase from RB Global's previous quarterly dividend of $0.29. RB Global's payout ratio is presently 61.39%.

Insider Buying and Selling at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the transaction, the insider directly owned 24,874 shares of the company's stock, valued at approximately $2,736,140. The trade was a 22.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,209 shares of company stock valued at $6,090,521. 4.32% of the stock is currently owned by company insiders.

About RB Global

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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