Squarepoint Ops LLC Acquires New Holdings in RB Global, Inc. (NYSE:RBA)

Squarepoint Ops LLC purchased a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,268 shares of the business services provider’s stock, valued at approximately $402,000.

A number of other large investors have also made changes to their positions in RBA. Advisor OS LLC grew its position in shares of RB Global by 1.9% in the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock valued at $638,000 after purchasing an additional 156 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 165 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of 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 purchasing an additional 210 shares in the last quarter. Cigna Investments Inc. New boosted its position in shares of RB Global by 6.6% during the second quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock worth $262,000 after buying an additional 212 shares during the period. Finally, Ascent Group LLC raised its position in RB Global by 2.4% in the 1st quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after buying an additional 225 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the transaction, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This represents a 0.00 % decrease in their ownership of the stock. 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 RB Global stock in a transaction 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 approximately $1,837,162.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock worth $3,720,043 in the last ninety days. 4.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RBA. BMO Capital Markets assumed coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target for the company. Bank of America upped their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada boosted their price objective on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. CIBC started coverage on RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target for the company. Finally, Robert W. Baird upped their price objective 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 seven have given a buy rating to the stock. According to MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global Trading Down 1.6 %

Shares of NYSE:RBA opened at $79.47 on Friday. The stock has a market cap of $14.53 billion, a PE ratio of 47.87, a P/E/G ratio of 5.22 and a beta of 0.93. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45. The business has a 50 day moving average of $82.26 and a 200-day moving average of $78.19.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results 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 firm had revenue of $1.10 billion during 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 company’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. As a group, equities research analysts forecast that RB Global, Inc. will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The firm 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 represents a $1.16 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Wednesday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is currently 69.88%.

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.