RB Global, Inc. $RBA Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. decreased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.9% in the second quarter, Holdings Channel reports. The fund owned 75,749 shares of the business services provider’s stock after selling 1,501 shares during the period. RB Global accounts for approximately 1.5% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 21st largest holding. Triasima Portfolio Management inc.’s holdings in RB Global were worth $8,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RBA. SouthState Corp acquired a new stake in RB Global in the 1st quarter valued at about $26,000. MV Capital Management Inc. increased its holdings in shares of RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after buying an additional 278 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of RB Global during the 1st quarter worth approximately $28,000. IFP Advisors Inc increased its holdings in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after buying an additional 279 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of RB Global during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

NYSE:RBA opened at $105.76 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. The stock has a market capitalization of $19.63 billion, a P/E ratio of 52.35, a PEG ratio of 2.50 and a beta of 0.65. The company has a 50 day moving average price of $113.47 and a 200 day moving average price of $106.85. RB Global, Inc. has a fifty-two week low of $78.55 and a fifty-two week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $0.94 EPS. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors 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 dividend 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 dividend payout ratio is 61.39%.

Insider Buying and Selling at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider owned 24,874 shares of the company’s stock, valued at $2,736,140. This trade represents a 22.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Francis Kessler sold 45,658 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at $11,832,590. This represents a 29.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,209 shares of company stock valued at $6,090,521 in the last 90 days. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Raymond James Financial raised their price target on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. National Bankshares raised their price target on shares of RB Global from $112.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. Weiss Ratings restated a “hold (c+)” rating on shares of RB Global in a report on Saturday, September 27th. Wall Street Zen upgraded shares of RB Global from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, CIBC raised their price target on shares of RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $124.33.

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.