Fifth Third Wealth Advisors LLC Purchases New Position in RB Global, Inc. (NYSE:RBA)

Fifth Third Wealth Advisors LLC purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,454 shares of the business services provider’s stock, valued at approximately $416,000.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in RB Global by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after buying an additional 1,153,497 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in RB Global by 1.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock valued at $652,590,000 after buying an additional 114,225 shares in the last quarter. Vontobel Asset Management Inc. increased its holdings in RB Global by 66.5% during the 4th quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock valued at $467,920,000 after purchasing an additional 2,655,388 shares in the last quarter. Boston Partners increased its holdings in RB Global by 4.1% during the 1st quarter. Boston Partners now owns 3,029,758 shares of the business services provider’s stock valued at $230,543,000 after purchasing an additional 120,469 shares in the last quarter. Finally, Norges Bank acquired a new stake in RB Global during the 4th quarter valued at $141,970,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the transaction, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $76.14, for a total value of $380,700.00. Following the completion of the transaction, the executive now directly owns 23,267 shares in the company, valued at approximately $1,771,549.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,472 shares of company stock valued at $1,793,266. 4.32% of the stock is owned by insiders.

RB Global Stock Up 0.4 %

Shares of RB Global stock traded up $0.34 during trading on Thursday, reaching $84.43. The stock had a trading volume of 26,594 shares, compared to its average volume of 1,100,086. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of 50.64, a P/E/G ratio of 5.85 and a beta of 0.91. The stock has a fifty day moving average price of $78.84 and a two-hundred day moving average price of $75.55. RB Global, Inc. has a 52 week low of $57.43 and a 52 week high of $84.46. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. Sell-side analysts predict that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be given a $0.29 dividend. The ex-dividend date is Wednesday, August 28th. 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. RB Global’s payout ratio is currently 65.06%.

Analyst Ratings Changes

RBA has been the subject of several research reports. Bank of America lifted their target price on RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Royal Bank of Canada lifted their target price on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. CIBC initiated coverage on RB Global in a research note on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price for the company. Raymond James lifted their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lifted their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.43.

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.