Hardy Reed LLC Takes Position in RB Global, Inc. $RBA

Hardy Reed LLC acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, Holdings Channel.com reports. The firm acquired 1,975 shares of the business services provider’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. raised its holdings in shares of RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares in the last quarter. Securian Asset Management Inc. increased its position in shares of RB Global by 0.7% in the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider’s stock worth $1,408,000 after purchasing an additional 100 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 104 shares in the last quarter. Wealth Alliance LLC lifted its position in RB Global by 2.7% during the first quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider’s stock valued at $399,000 after purchasing an additional 104 shares during the last quarter. Finally, Fullcircle Wealth LLC lifted its position in RB Global by 5.5% during the first quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider’s stock valued at $235,000 after purchasing an additional 124 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RBA. Wall Street Zen raised shares of RB Global from a “hold” rating to a “buy” rating in a report on Friday. BMO Capital Markets increased their target price on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Weiss Ratings restated a “hold (c+)” rating on shares of RB Global in a research report on Saturday, September 27th. CIBC lifted their price target on RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Finally, Raymond James Financial increased their price objective on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.33.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 7,400 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider directly owned 24,874 shares of the company’s stock, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 45,658 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at $11,832,590. This represents a 29.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,209 shares of company stock worth $6,090,521. 0.28% of the stock is currently owned by corporate insiders.

RB Global Price Performance

RBA stock opened at $107.63 on Tuesday. The stock has a market capitalization of $19.98 billion, a price-to-earnings ratio of 53.28, a PEG ratio of 2.52 and a beta of 0.65. The firm’s 50-day moving average price is $113.52 and its two-hundred day moving average price is $106.85. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a 12-month low of $78.55 and a 12-month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business earned $0.94 EPS. RB Global’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.29. RB Global’s payout ratio is presently 61.39%.

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.