Trust Point Inc. Reduces Stake in RB Global, Inc. $RBA

Key Points

• Trust Point Inc. reduced its stake in RB Global, Inc. by 28.8%, leaving it with 12,741 shares worth approximately $1.35 million.
• Several large investors, including Moody National Bank Trust Division and Wealth Enhancement Advisory Services LLC, have adjusted their positions in RB Global, with 95.37% of the stock owned by institutional investors.
• RB Global recently raised its quarterly dividend to $0.31 per share, reflecting an annual yield of 1.1% and an increase from the previous $0.29 dividend.

Trust Point Inc. lessened its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 28.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,741 shares of the business services provider's stock after selling 5,161 shares during the quarter. Trust Point Inc.'s holdings in RB Global were worth $1,353,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Moody National Bank Trust Division bought a new position in shares of RB Global in the 2nd quarter worth approximately $205,000. Exchange Traded Concepts LLC raised its stake in RB Global by 1.9% during the 2nd quarter. Exchange Traded Concepts LLC now owns 8,096 shares of the business services provider's stock worth $860,000 after acquiring an additional 152 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of RB Global by 2.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,844 shares of the business services provider's stock valued at $512,000 after buying an additional 125 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of RB Global by 4.4% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 69,200 shares of the business services provider's stock valued at $7,337,000 after buying an additional 2,900 shares during the last quarter. Finally, Wedmont Private Capital bought a new stake in shares of RB Global during the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction dated 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 owned 24,874 shares in the company, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,209 shares of company stock worth $6,090,521. 0.28% of the stock is owned by corporate insiders.

RB Global Stock Down 3.3%

Shares of RBA stock traded down $3.94 on Monday, hitting $114.97. The stock had a trading volume of 1,168,643 shares, compared to its average volume of 1,080,292. 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 business has a 50 day moving average price of $113.43 and a 200 day moving average price of $106.00. The company has a market cap of $21.34 billion, a PE ratio of 56.91, a P/E/G ratio of 2.76 and a beta of 0.65. RB Global, Inc. has a one year low of $78.08 and a one year high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. The firm 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 earnings per share. Research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were issued a $0.31 dividend. This is a boost from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, August 28th. RB Global's dividend payout ratio is presently 61.39%.

Wall Street Analysts Forecast Growth

RBA has been the topic of several research reports. National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. National Bankshares boosted their price target on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Raymond James Financial boosted their price target on shares of RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, CIBC lifted their price objective on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.33.

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.