RB Global, Inc. (NYSE:RBA) Stake Boosted by Sei Investments Co.

Sei Investments Co. raised its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 13.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 453,932 shares of the business services provider’s stock after buying an additional 52,988 shares during the quarter. Sei Investments Co. owned 0.25% of RB Global worth $34,662,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brevan Howard Capital Management LP purchased a new stake in shares of RB Global in the fourth quarter worth approximately $2,009,000. Intech Investment Management LLC acquired a new stake in shares of RB Global during the 1st quarter valued at $613,000. Price T Rowe Associates Inc. MD boosted its stake in shares of RB Global by 25.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock valued at $27,927,000 after buying an additional 74,809 shares during the period. TD Asset Management Inc grew its holdings in shares of RB Global by 3.9% during the 4th quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock valued at $40,567,000 after acquiring an additional 22,636 shares in the last quarter. Finally, MJP Associates Inc. ADV raised its holdings in shares of RB Global by 10.7% during the second quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after acquiring an additional 401 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Down 0.0 %

NYSE:RBA opened at $84.37 on Tuesday. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 50.83, a P/E/G ratio of 5.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The stock’s fifty day moving average price is $81.94 and its two-hundred day moving average price is $77.77. RB Global, Inc. has a 52-week low of $58.85 and a 52-week high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. On average, analysts anticipate that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. RB Global’s payout ratio is 69.88%.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,166,263.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares in the company, valued at $1,837,162.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,166,263.23. The disclosure for this sale can be found here. Insiders have sold 26,718 shares of company stock worth $2,214,474 over the last ninety days. Company insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RBA. Bank of America lifted their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. CIBC assumed coverage on shares of RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective for the company. Raymond James raised their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Robert W. Baird increased their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada raised their price objective on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.19.

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.