Vontobel Holding Ltd. Sells 693,487 Shares of RB Global, Inc. $RBA

Vontobel Holding Ltd. cut its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,542,964 shares of the business services provider's stock after selling 693,487 shares during the quarter. RB Global makes up 2.2% of Vontobel Holding Ltd.'s portfolio, making the stock its 10th biggest holding. Vontobel Holding Ltd. owned 3.53% of RB Global worth $694,797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its position in shares of RB Global by 21.9% in 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 stake in shares of RB Global by 0.7% in 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 buying an additional 100 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of RB Global by 10.9% in the first 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 during the period. Wealth Alliance LLC lifted its stake in shares of RB Global by 2.7% in the first quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock valued at $399,000 after buying an additional 104 shares during the period. Finally, Fullcircle Wealth LLC lifted its stake in shares of RB Global by 5.5% in the first quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider's stock valued at $235,000 after buying an additional 124 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Performance

NYSE:RBA opened at $105.73 on Thursday. RB Global, Inc. has a 1 year low of $78.55 and a 1 year high of $119.58. The firm has a 50 day moving average of $113.41 and a 200-day moving average of $106.84. 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 stock has a market capitalization of $19.63 billion, a P/E ratio of 52.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.65.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results 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. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. RB Global's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on RBA. BMO Capital Markets increased their target price on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Weiss Ratings upgraded shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Raymond James Financial increased their target price on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada increased their target price on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, National Bankshares raised 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 note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $124.33.

Insider Activity at RB Global

In related news, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider owned 24,874 shares of the company's stock, valued at $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Francis Kessler sold 45,658 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company's stock, valued at approximately $11,832,590. This represents a 29.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,209 shares of company stock valued at $6,090,521 over the last quarter. Corporate insiders own 4.32% of the company's stock.

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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