Benjamin Edwards Inc. Sells 4,332 Shares of RB Global, Inc. (NYSE:RBA)

Benjamin Edwards Inc. lessened its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 31.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,444 shares of the business services provider’s stock after selling 4,332 shares during the quarter. Benjamin Edwards Inc.’s holdings in RB Global were worth $721,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RBA. Advisor OS LLC lifted its stake 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 worth $638,000 after purchasing an additional 156 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in RB Global by 58.7% during the 2nd 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 grew its position in RB Global by 33.5% in the 2nd 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 last quarter. Cigna Investments Inc. New increased its stake 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 worth $262,000 after purchasing an additional 212 shares during the period. Finally, Ascent Group LLC lifted its position in shares of RB Global by 2.4% during the first quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock worth $717,000 after purchasing an additional 225 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RBA. Raymond James upped their price target on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Robert W. Baird raised their target price on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets started coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price target for the company. Bank of America raised their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, CIBC assumed coverage on RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus target price of $92.19.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on Monday, September 9th. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47. Following the transaction, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at $7,166,263.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction that occurred 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 of the company’s stock, valued at $7,166,263.23. The disclosure for this sale can be found here. Insiders sold 26,718 shares of company stock valued at $2,214,474 over the last 90 days. Insiders own 4.32% of the company’s stock.

RB Global Stock Down 1.1 %

Shares of NYSE RBA opened at $84.40 on Friday. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45. The stock’s fifty day simple moving average is $81.85 and its two-hundred day simple moving average is $77.68. The stock has a market capitalization of $15.43 billion, a PE ratio of 50.84, a price-to-earnings-growth ratio of 5.43 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 (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share 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 the consensus estimate of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. As a group, analysts expect that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Wednesday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s payout ratio is 69.88%.

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.