Exchange Traded Concepts LLC Buys New Holdings in RB Global, Inc. (NYSE:RBA)

Exchange Traded Concepts LLC bought a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the third quarter, HoldingsChannel reports. The fund bought 8,824 shares of the business services provider’s stock, valued at approximately $710,000.

A number of other large investors have also recently bought and sold shares of the company. Advisor OS LLC lifted its holdings in RB Global by 1.9% in the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock valued at $638,000 after acquiring an additional 156 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 165 shares during the period. Nisa Investment Advisors LLC lifted its holdings in RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the period. Cigna Investments Inc. New lifted its holdings in RB Global by 6.6% in the second quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 212 shares during the period. Finally, Ascent Group LLC lifted its holdings in RB Global by 2.4% in the first quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,261,134.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the transaction, the executive now directly owns 20,267 shares in the company, valued at approximately $1,733,841.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,601 shares of company stock worth $3,720,043. 4.10% of the stock is currently owned by company insiders.

RB Global Stock Up 0.7 %

Shares of NYSE:RBA opened at $81.11 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $82.71 and a two-hundred day moving average of $78.36. The stock has a market cap of $14.96 billion, a P/E ratio of 45.57, a PEG ratio of 5.28 and a beta of 0.93. 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 issued its 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 company had revenue of $1.10 billion during 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, research analysts expect that RB Global, Inc. will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were issued a $0.29 dividend. This is a boost from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.43%. The ex-dividend date was Wednesday, August 28th. RB Global’s dividend payout ratio is presently 65.17%.

Analyst Ratings Changes

RBA has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. BMO Capital Markets began coverage on RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price for the company. Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird upped their target price on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average price target of $92.19.

About RB Global

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.