Victory Capital Management Inc. Invests $1.10 Million in RB Global, Inc. (NYSE:RBA)

Victory Capital Management Inc. acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 2nd quarter, Holdings Channel reports. The fund acquired 14,373 shares of the business services provider’s stock, valued at approximately $1,098,000.

Several other institutional investors and hedge funds also recently modified their holdings of RBA. Private Advisor Group LLC acquired a new position in shares of RB Global during the fourth quarter worth about $260,000. Norges Bank acquired a new position in RB Global during the fourth quarter valued at approximately $141,970,000. Wells Fargo & Company MN boosted its position in RB Global by 8.9% during the fourth quarter. Wells Fargo & Company MN now owns 132,663 shares of the business services provider’s stock valued at $8,874,000 after purchasing an additional 10,867 shares during the last quarter. Corient Private Wealth LLC boosted its position in RB Global by 8.1% during the fourth quarter. Corient Private Wealth LLC now owns 20,786 shares of the business services provider’s stock valued at $1,390,000 after purchasing an additional 1,557 shares during the last quarter. Finally, Assetmark Inc. boosted its position in RB Global by 36.0% during the fourth quarter. Assetmark Inc. now owns 5,827 shares of the business services provider’s stock valued at $390,000 after purchasing an additional 1,542 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RB Global

In other news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following 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 is available through the SEC website. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the firm’s 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 transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,166,263.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the transaction, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,718 shares of company stock worth $2,214,474. Company insiders own 4.32% of the company’s stock.

RB Global Price Performance

Shares of NYSE RBA opened at $85.31 on Friday. The firm has a market cap of $15.60 billion, a P/E ratio of 51.39, a price-to-earnings-growth ratio of 5.42 and a beta of 0.93. 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, Inc. has a 1-year low of $58.85 and a 1-year high of $87.45. The business’s 50 day moving average is $81.75 and its 200-day moving average is $77.62.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping 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 firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. Equities research analysts predict that RB Global, Inc. will post 1.96 earnings per share for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is 69.88%.

Wall Street Analyst Weigh In

Several research analysts recently commented on RBA shares. CIBC started coverage on RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target for the company. Robert W. Baird increased their price target on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America increased their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Raymond James increased their price target on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets initiated coverage on RB Global in a research note on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.