RB Global, Inc. (NYSE:RBA) Shares Sold by Inspire Investing LLC

Inspire Investing LLC decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 13.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,825 shares of the business services provider’s stock after selling 1,941 shares during the quarter. Inspire Investing LLC’s holdings in RB Global were worth $979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of RBA. YHB Investment Advisors Inc. acquired a new position in RB Global in the 1st quarter valued at about $27,000. Hollencrest Capital Management acquired a new stake in shares of RB Global during the 1st quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV raised its position in shares of RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after buying an additional 165 shares during the period. Nisa Investment Advisors LLC lifted its holdings in RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in RB Global in the fourth quarter worth approximately $72,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of RBA opened at $84.40 on Friday. The company has a market cap of $15.43 billion, a P/E ratio of 50.84, a PEG ratio of 5.43 and a beta of 0.93. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two 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’s 50 day moving average price is $81.85 and its 200 day moving average price is $77.68.

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 for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The company’s revenue was down .9% on a year-over-year basis. On average, research analysts forecast that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Wednesday, August 28th. This is a boost from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is presently 69.88%.

Analysts Set New Price Targets

Several brokerages have recently commented on RBA. Robert W. Baird upped their price target on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. CIBC started coverage on shares of RB Global in a research report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price on the stock. Bank of America lifted their price target 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 assumed coverage on shares of RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average target price of $92.19.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at $7,166,263.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 $7,166,263.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO James J. Jeter sold 3,000 shares of RB Global 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 of the company’s stock, valued at $1,733,841.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,718 shares of company stock valued at $2,214,474. 4.32% of the stock is currently owned by corporate insiders.

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.