Blue Trust Inc. Increases Holdings in RB Global, Inc. (NYSE:RBA)

Blue Trust Inc. increased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 44.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,981 shares of the business services provider’s stock after purchasing an additional 608 shares during the period. Blue Trust Inc.’s holdings in RB Global were worth $199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RBA. CoreCap Advisors LLC increased its position in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 117 shares during the period. MV Capital Management Inc. boosted its stake 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 worth $28,000 after acquiring an additional 278 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after acquiring an additional 129 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in RB Global in the 4th quarter valued at approximately $37,000. Finally, SRS Capital Advisors Inc. lifted its stake in RB Global by 163.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock valued at $58,000 after buying an additional 400 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

NYSE:RBA opened at $105.74 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. The firm has a 50-day moving average of $103.80 and a two-hundred day moving average of $97.89. The stock has a market cap of $19.58 billion, a P/E ratio of 52.09, a PEG ratio of 3.71 and a beta of 0.78. RB Global, Inc. has a 1-year low of $70.38 and a 1-year high of $109.25.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.10%. RB Global’s payout ratio is 57.14%.

Insider Transactions at RB Global

In other RB Global news, CRO James J. Jeter sold 3,500 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $104.38, for a total value of $365,330.00. Following the transaction, the executive now owns 16,167 shares of the company’s stock, valued at $1,687,511.46. This trade represents a 17.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew John Fesler sold 9,075 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the transaction, the insider now directly owns 5,532 shares in the company, valued at $579,311.04. This represents a 62.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,075 shares of company stock valued at $2,007,349. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RBA shares. CIBC upped their target price on RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Friday, May 9th. National Bankshares reduced their price target on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird increased their price target on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Raymond James Financial upped their price objective on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Wall Street Zen upgraded RB Global from a “hold” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average target price of $114.50.

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.