Ritholtz Wealth Management Trims Holdings in RB Global, Inc. $RBA

Ritholtz Wealth Management trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 37.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,816 shares of the business services provider’s stock after selling 8,348 shares during the period. Ritholtz Wealth Management’s holdings in RB Global were worth $1,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC grew its stake in shares of RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 5,090 shares during the period. NewEdge Advisors LLC increased its stake 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 worth $59,000 after purchasing an additional 204 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of RB Global by 857.9% during the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after purchasing an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in RB Global during the first quarter worth about $4,103,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 0.1%

RBA opened at $115.42 on Monday. The stock has a market capitalization of $21.46 billion, a P/E ratio of 53.68, a price-to-earnings-growth ratio of 1.84 and a beta of 0.57. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The business’s 50-day simple moving average is $105.89 and its 200-day simple moving average is $105.29. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the firm posted $0.89 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts anticipate that RB Global, Inc. will post 4.09 EPS for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global’s payout ratio is presently 57.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RBA shares. Stephens reissued an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Royal Bank Of Canada boosted their target price on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RB Global in a report on Tuesday, May 26th. Finally, Barclays started coverage on RB Global in a research report on Thursday, May 28th. They issued an “overweight” rating and a $124.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.12.

Insider Buying and Selling

In other news, Director Deborah Stein acquired 425 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director owned 1,825 shares in the company, valued at $188,248.75. This represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.57% 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.