7,605 Shares in RB Global, Inc. (NYSE:RBA) Purchased by Virtu Financial LLC

Key Points

• Virtu Financial LLC invested approximately $763,000 by acquiring 7,605 shares of RB Global, Inc. during the first quarter.
• RB Global recently announced a quarterly dividend increase to $0.31, up from $0.29, reflecting a positive shift in shareholder returns.
• Analysts have upgraded their ratings for RB Global, with a consensus rating of "Moderate Buy" and price targets raised to between $125 and $132.

Virtu Financial LLC bought a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,605 shares of the business services provider's stock, valued at approximately $763,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC lifted its position in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after buying an additional 117 shares in the last quarter. MV Capital Management Inc. lifted its position in shares of RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after buying an additional 278 shares in the last quarter. IFP Advisors Inc lifted 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 valued at $36,000 after buying an additional 279 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of RB Global by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after buying an additional 104 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of RB Global by 1,870.9% during the 1st quarter. Allworth Financial LP now owns 1,084 shares of the business services provider's stock valued at $107,000 after buying an additional 1,029 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Price Performance

RBA stock traded down $2.30 during midday trading on Friday, reaching $115.13. The stock had a trading volume of 1,221,840 shares, compared to its average volume of 1,055,790. The company's fifty day simple moving average is $108.31 and its 200 day simple moving average is $102.60. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The company has a market cap of $21.36 billion, a price-to-earnings ratio of 57.00, a price-to-earnings-growth ratio of 2.66 and a beta of 0.75. RB Global, Inc. has a 52-week low of $78.08 and a 52-week high of $118.23.

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

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.31 per share. The ex-dividend date is Thursday, August 28th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. This is a boost from RB Global's previous quarterly dividend of $0.29. RB Global's payout ratio is presently 57.43%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Raymond James Financial increased their target price on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Royal Bank Of Canada increased their target price on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. CIBC raised their price objective on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a report on Friday, July 18th. BMO Capital Markets raised their price objective on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, RB Global has an average rating of "Moderate Buy" and an average target price of $119.79.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at $11,832,590. The trade was a 29.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of RB Global stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $814,000.00. Following the transaction, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,558 shares of company stock worth $6,314,145 in the last quarter. Company insiders own 4.32% of the company's stock.

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.