Federated Hermes Inc. Invests $1.34 Million in RB Global, Inc. (NYSE:RBA)

Federated Hermes Inc. purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,551 shares of the business services provider’s stock, valued at approximately $1,340,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Advisor OS LLC boosted its position in 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 buying an additional 156 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after purchasing an additional 165 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in RB Global by 33.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after purchasing an additional 210 shares during the period. Cigna Investments Inc. New raised its position in RB Global by 6.6% during the 2nd quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 212 shares in the last quarter. Finally, Ascent Group LLC lifted its holdings in shares of RB Global by 2.4% in the 1st quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock worth $717,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the sale, the executive now owns 23,267 shares in the company, valued at $1,837,162.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the sale, the executive now directly owns 20,267 shares in the company, valued at $1,733,841.85. The disclosure for this sale can be found here. Insiders have sold a total of 26,718 shares of company stock worth $2,214,474 over the last quarter. Insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

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

RB Global Stock Down 1.1 %

RBA stock opened at $84.40 on Friday. The stock has a market capitalization of $15.43 billion, a PE ratio of 50.84, a price-to-earnings-growth ratio of 5.43 and a beta of 0.93. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45. 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 firm has a 50 day moving average of $81.85 and a 200 day moving average of $77.68.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data 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. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that RB Global, Inc. will post 1.96 earnings per share for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were issued a dividend of $0.29 per share. This is an increase from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.37%. RB Global’s payout ratio is 69.88%.

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.