Ascent Group LLC Buys 880 Shares of RB Global, Inc. (NYSE:RBA)

Ascent Group LLC increased its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,295 shares of the business services provider’s stock after buying an additional 880 shares during the period. Ascent Group LLC’s holdings in RB Global were worth $786,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new stake in RB Global in the first quarter worth about $27,000. Hollencrest Capital Management purchased a new stake in RB Global in the first quarter worth about $33,000. Massmutual Trust Co. FSB ADV grew its holdings 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 during the period. Nisa Investment Advisors LLC grew 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 during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in RB Global in the fourth quarter worth about $72,000. 95.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RBA. Royal Bank of Canada upped their price objective on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Robert W. Baird increased their price target on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America increased 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. BMO Capital Markets began coverage on shares of RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target on the stock. Finally, Raymond James increased their price target 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.19.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of the stock in a transaction that occurred 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 $1,837,162.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,601 shares of company stock worth $3,720,043. Company insiders own 4.32% of the company’s stock.

RB Global Stock Up 0.3 %

Shares of RB Global stock opened at $80.49 on Tuesday. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 48.48, a price-to-earnings-growth ratio of 5.38 and a beta of 0.93. The company’s 50 day moving average is $82.04 and its 200 day moving average is $77.98. RB Global, Inc. has a twelve month low of $58.85 and a twelve month 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.

RB Global (NYSE:RBA) (TSE:RBA) last issued 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. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Research analysts anticipate that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were given 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 was Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 1.44%. RB Global’s dividend payout ratio is 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.