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

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

Other institutional investors also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC boosted its stake in RB Global by 3.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,352 shares of the business services provider’s stock worth $609,000 after buying an additional 197 shares during the last quarter. Cidel Asset Management Inc. increased its position in RB Global by 80.4% during the first quarter. Cidel Asset Management Inc. now owns 599,791 shares of the business services provider’s stock worth $57,338,000 after purchasing an additional 267,372 shares during the last quarter. SG Americas Securities LLC acquired a new position in RB Global during the first quarter worth approximately $2,277,000. Bayban purchased a new position in shares of RB Global in the 4th quarter worth $34,000. Finally, MidFirst Bank purchased a new position in shares of RB Global in the 4th quarter worth about $6,834,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

RB Global Stock Up 0.1%

Shares of RB Global stock opened at $115.42 on Monday. The business’s fifty day moving average price is $105.89 and its two-hundred day moving average price is $105.29. 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 company has a market capitalization of $21.46 billion, a P/E ratio of 53.68, a PEG ratio of 1.84 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.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. The company had revenue of $1.21 billion 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 company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. As a group, research analysts forecast that RB Global, Inc. will post 4.09 EPS for the current year.

RB Global Dividend Announcement

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

Insider Activity at RB Global

In other news, Director Deborah Stein acquired 425 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the acquisition, the director directly owned 1,825 shares in the company, valued at $188,248.75. This represents a 30.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate 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.