DekaBank Deutsche Girozentrale cut its stake in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,645 shares of the business services provider’s stock after selling 514 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in RB Global were worth $1,452,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in RBA. Massmutual Trust Co. FSB ADV grew its holdings in RB Global by 380.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 812 shares of the business services provider’s stock worth $46,000 after buying an additional 643 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in RB Global by 134.7% in the 1st quarter. Belpointe Asset Management LLC now owns 913 shares of the business services provider’s stock worth $51,000 after buying an additional 524 shares in the last quarter. International Assets Investment Management LLC bought a new position in RB Global in the 1st quarter worth approximately $57,000. Oliver Lagore Vanvalin Investment Group bought a new position in RB Global in the 1st quarter valued at about $57,000. Finally, Addison Advisors LLC grew its position in RB Global by 33.9% in the 1st quarter. Addison Advisors LLC now owns 1,271 shares of the business services provider’s stock valued at $72,000 after buying an additional 322 shares in the last quarter. 90.24% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
RBA has been the subject of a number of recent analyst reports. National Bank Financial increased their target price on shares of RB Global from $61.00 to $70.00 in a research report on Monday, July 10th. StockNews.com lowered RB Global from a “hold” rating to a “sell” rating in a research note on Friday. Royal Bank of Canada increased their price target on RB Global from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. Finally, Raymond James raised RB Global from a “market perform” rating to an “outperform” rating and increased their price target for the company from $60.00 to $75.00 in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.25.
Insider Transactions at RB Global
In other RB Global news, Director Michael D. Sieger bought 1,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $58.08 per share, with a total value of $58,080.00. Following the completion of the transaction, the director now directly owns 3,036 shares in the company, valued at approximately $176,330.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO James Francis Kessler purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average cost of $56.30 per share, for a total transaction of $112,600.00. Following the completion of the acquisition, the chief executive officer now owns 63,011 shares in the company, valued at approximately $3,547,519.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael D. Sieger purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $58.08 per share, with a total value of $58,080.00. Following the completion of the acquisition, the director now owns 3,036 shares of the company’s stock, valued at approximately $176,330.88. The disclosure for this purchase can be found here. Insiders acquired a total of 6,911 shares of company stock valued at $412,150 over the last quarter. Company insiders own 4.32% of the company’s stock.
RB Global Stock Performance
RBA opened at $66.52 on Friday. RB Global, Inc. has a fifty-two week low of $48.72 and a fifty-two week high of $67.77. The business has a fifty day simple moving average of $62.14 and a 200-day simple moving average of $59.30. The firm has a market cap of $12.11 billion, a PE ratio of 72.30, a P/E/G ratio of 14.51 and a beta of 0.91. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last announced its earnings results on Thursday, August 3rd. The business services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.17). RB Global had a return on equity of 4.77% and a net margin of 5.94%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.03 billion. As a group, equities analysts predict that RB Global, Inc. will post 0.65 EPS for the current fiscal year.
RB Global Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were given a $0.27 dividend. The ex-dividend date was Tuesday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 1.62%. RB Global’s dividend payout ratio (DPR) is presently 117.39%.
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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.
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