Thoroughbred Financial Services LLC Takes $217,000 Position in RB Global, Inc. (NYSE:RBA)

Thoroughbred Financial Services LLC acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,848 shares of the business services provider’s stock, valued at approximately $217,000.

Other large investors also recently modified their holdings of the company. YHB Investment Advisors Inc. bought a new stake in shares of RB Global in the 1st quarter valued at approximately $27,000. Hollencrest Capital Management bought a new stake in shares of RB Global in the 1st quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV grew 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 grew its stake in shares of 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 purchasing an additional 210 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of RB Global in the 4th quarter valued at approximately $72,000. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Down 0.9 %

NYSE:RBA opened at $84.36 on Wednesday. The stock’s fifty day moving average price is $81.34 and its two-hundred day moving average price is $77.47. RB Global, Inc. has a 52-week low of $58.85 and a 52-week high of $87.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 50.55, a P/E/G ratio of 5.42 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm 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 business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. On average, analysts anticipate that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is 69.88%.

Insider Activity

In other news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction on Monday, September 9th. The stock was 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 owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction 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 sale, the executive now owns 20,267 shares in the company, valued at approximately $1,733,841.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction on Monday, September 9th. The shares were 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 approximately $7,166,263.23. The disclosure for this sale can be found here. Insiders have sold a total of 26,718 shares of company stock valued at $2,214,474 in the last 90 days. 4.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Robert W. Baird increased their price target on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Raymond James increased their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Bank of America increased their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. BMO Capital Markets assumed coverage on RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target on the stock. Finally, Royal Bank of Canada increased their price target on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.19.

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.