Diversified Trust Co Sells 12,318 Shares of RB Global, Inc. $RBA

Diversified Trust Co decreased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 42.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,786 shares of the business services provider’s stock after selling 12,318 shares during the quarter. Diversified Trust Co’s holdings in RB Global were worth $1,609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RBA. MV Capital Management Inc. acquired a new position in RB Global during the fourth quarter worth $29,000. Bayban bought a new position in RB Global during the fourth quarter valued at about $34,000. Central Pacific Bank Trust Division lifted its position in shares of RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after buying an additional 107 shares during the last quarter. State of Wyoming acquired a new stake in shares of RB Global in the second quarter worth about $46,000. Finally, Geneos Wealth Management Inc. lifted 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 worth $54,000 after buying an additional 97 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 1.6%

Shares of RBA stock opened at $108.84 on Tuesday. The firm has a market capitalization of $20.24 billion, a P/E ratio of 50.63, a price-to-earnings-growth ratio of 1.76 and a beta of 0.57. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58. The firm’s fifty day simple moving average is $105.12 and its 200 day simple moving average is $104.89. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating 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 firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.89 EPS. The business’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts predict 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. Investors of record on Wednesday, May 27th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s dividend payout ratio (DPR) is presently 57.67%.

Insiders Place Their Bets

In other news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RBA shares. Barclays began coverage on RB Global in a report on Thursday, May 28th. They set an “overweight” rating and a $124.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Stephens reaffirmed an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada increased their price target on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.12.

RB Global 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.