Janney Montgomery Scott LLC Has $1.78 Million Position in RB Global, Inc. $RBA

Janney Montgomery Scott LLC lowered its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 20.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,580 shares of the business services provider’s stock after selling 4,767 shares during the quarter. Janney Montgomery Scott LLC’s holdings in RB Global were worth $1,781,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RBA. MV Capital Management Inc. bought a new position in RB Global in the fourth quarter valued at $29,000. Bayban bought a new stake in RB Global during the 4th quarter worth about $34,000. Central Pacific Bank Trust Division lifted its position in RB Global by 41.8% during the 4th 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 in the last quarter. State of Wyoming acquired a new position in shares of RB Global during the 2nd quarter worth about $46,000. Finally, Nemes Rush Group LLC acquired a new position in shares of RB Global during the 4th quarter worth about $54,000. 95.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Deborah Stein acquired 425 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director directly owned 1,825 shares of the company’s stock, valued at approximately $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 link. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RBA shares. Royal Bank Of Canada boosted their price target on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Zacks Research raised shares of RB Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. Wall Street Zen upgraded shares of RB Global from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Stephens reaffirmed an “equal weight” rating and set a $96.00 price target on shares of RB Global in a research report on Tuesday, May 5th. Finally, Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $126.12.

RB Global Price Performance

Shares of RBA opened at $111.41 on Friday. The company’s 50-day moving average is $107.37 and its 200-day moving average is $105.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The firm has a market capitalization of $20.71 billion, a PE ratio of 51.82, a PEG ratio of 1.74 and a beta of 0.55. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data 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. The company had revenue of $888.01 million during the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. Equities analysts forecast that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Dividend Announcement

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

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.