RB Global, Inc. $RBA Shares Sold by Arvin Capital Management LP

Arvin Capital Management LP trimmed its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 27.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,100 shares of the business services provider’s stock after selling 36,147 shares during the period. RB Global accounts for 1.9% of Arvin Capital Management LP’s holdings, making the stock its 20th biggest position. Arvin Capital Management LP’s holdings in RB Global were worth $10,305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of RBA. Spire Wealth Management raised its position in shares of RB Global by 1,090.6% during the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after purchasing an additional 349 shares during the last quarter. State of Wyoming acquired a new stake in RB Global in the 2nd quarter worth about $46,000. SouthState Corp increased its stake in RB Global by 75.6% during the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock worth $48,000 after buying an additional 195 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

RB Global stock opened at $100.42 on Wednesday. The firm has a 50 day simple moving average of $108.61 and a 200-day simple moving average of $106.89. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 49.23, a price-to-earnings-growth ratio of 1.52 and a beta of 0.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02. RB Global, Inc. has a 1-year low of $87.87 and a 1-year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, February 9th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, February 9th. RB Global’s dividend payout ratio is 60.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RBA shares. Royal Bank Of Canada lifted their price target on RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price on the stock in a research note on Monday, November 24th. Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Finally, Bank of America decreased their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $129.29.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $12,370,435. This represents a 16.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.28% 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.