4,628 Shares in RB Global, Inc. (NYSE:RBA) Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. bought a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,628 shares of the business services provider’s stock, valued at approximately $353,000.

Several other institutional investors also recently modified their holdings of RBA. Advisor OS LLC increased its position in shares of RB Global by 1.9% during the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $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% during 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 during the period. Nisa Investment Advisors LLC increased 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 worth $64,000 after purchasing an additional 210 shares in the last quarter. Cigna Investments Inc. New lifted its stake in RB Global by 6.6% in the second quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock valued at $262,000 after buying an additional 212 shares during the period. Finally, Ascent Group LLC boosted its holdings in shares of RB Global by 2.4% during 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 in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction dated 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 of the company’s stock, valued at approximately $7,166,263.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,718 shares of company stock valued at $2,214,474. 4.32% of the stock is owned by company insiders.

RB Global Trading Down 1.1 %

NYSE RBA opened at $84.41 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $81.85 and a 200 day simple moving average of $77.69. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $87.45. The firm has a market capitalization of $15.43 billion, a P/E ratio of 50.85, a PEG ratio of 5.43 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts predict that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

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

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.