Rice Hall James & Associates LLC Lowers Holdings in RB Global, Inc. $RBA

Rice Hall James & Associates LLC lowered its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,309 shares of the business services provider’s stock after selling 6,533 shares during the period. Rice Hall James & Associates LLC’s holdings in RB Global were worth $7,835,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in RBA. SVB Wealth LLC purchased a new position in RB Global during the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new position in RB Global during the first quarter valued at approximately $38,000. State of Wyoming bought a new position in RB Global in the second quarter worth approximately $46,000. Whipplewood Advisors LLC lifted its holdings in RB Global by 42.9% during the second quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after buying an additional 137 shares during the period. Finally, SouthState Corp increased its holdings in shares of RB Global by 75.6% in the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 195 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Trading Down 0.1%

Shares of RB Global stock opened at $105.36 on Friday. The stock has a market cap of $19.58 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 2.30 and a beta of 0.56. The firm has a fifty day moving average price of $100.51 and a 200 day moving average price of $106.76. RB Global, Inc. has a 1 year low of $86.68 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.10. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the business earned $0.71 earnings per share. RB Global’s quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, November 26th. RB Global’s dividend payout ratio (DPR) is currently 59.33%.

Analyst Ratings Changes

A number of brokerages recently weighed in on RBA. National Bankshares decreased their price objective on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research note on Thursday, October 9th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada lifted their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Bank of America decreased their target price on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.88.

Insider Buying and Selling

In other RB Global news, Director Deborah Stein bought 1,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the transaction, the director directly owned 1,000 shares of the company’s stock, valued at approximately $101,260. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.32% 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.