Daiwa Securities Group Inc. Decreases Holdings in RB Global, Inc. (NYSE:RBA)

Daiwa Securities Group Inc. decreased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,007 shares of the business services provider’s stock after selling 181 shares during the period. Daiwa Securities Group Inc.’s holdings in RB Global were worth $459,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Andra AP fonden bought a new position in shares of RB Global in the second quarter valued at approximately $909,000. United Services Automobile Association purchased a new position in shares of RB Global during the second quarter worth approximately $1,656,000. Oak Thistle LLC purchased a new position in shares of RB Global during the second quarter worth approximately $270,000. Triasima Portfolio Management inc. increased its stake in shares of RB Global by 31.6% in the second quarter. Triasima Portfolio Management inc. now owns 237,418 shares of the business services provider’s stock worth $18,099,000 after buying an additional 57,000 shares during the period. Finally, Caprock Group LLC purchased a new position in shares of RB Global in the second quarter worth $302,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America boosted their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. BMO Capital Markets started coverage on shares of RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective on the stock. Raymond James boosted their target price on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, CIBC started coverage on shares of RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.19.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 17,883 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at $7,166,263.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,718 shares of company stock worth $2,214,474. Corporate insiders own 4.32% of the company’s stock.

RB Global Price Performance

NYSE RBA opened at $85.10 on Tuesday. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45. The firm has a market capitalization of $15.56 billion, a P/E ratio of 51.12, a PEG ratio of 5.42 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. The company has a 50-day moving average price of $81.17 and a 200-day moving average price of $77.41.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations 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 was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. Equities research analysts anticipate that RB Global, Inc. will post 1.96 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be issued a $0.29 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.27. 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 1.36%. RB Global’s dividend payout ratio (DPR) is presently 69.88%.

About RB Global

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.