Creative Planning Increases Position in RB Global, Inc. (NYSE:RBA)

Creative Planning grew its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 27.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,811 shares of the business services provider’s stock after purchasing an additional 4,285 shares during the period. Creative Planning’s holdings in RB Global were worth $1,595,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RBA. Intech Investment Management LLC purchased a new position in RB Global during the first quarter valued at $613,000. Price T Rowe Associates Inc. MD raised its position in shares of RB Global by 25.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after purchasing an additional 74,809 shares during the last quarter. MJP Associates Inc. ADV boosted its stake in RB Global by 10.7% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after purchasing an additional 401 shares in the last quarter. Cetera Investment Advisers grew its position in RB Global by 1,177.0% during the 1st quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock valued at $3,319,000 after purchasing an additional 40,160 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. increased its stake in RB Global by 83.2% during the 1st quarter. BW Gestao de Investimentos Ltda. now owns 701,538 shares of the business services provider’s stock valued at $53,436,000 after purchasing an additional 318,582 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on 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 transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,166,263.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,601 shares of company stock valued at $3,720,043 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

RB Global Stock Performance

RBA opened at $86.63 on Wednesday. The company’s 50 day moving average is $83.31 and its 200 day moving average is $78.87. 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 company has a market cap of $15.98 billion, a price-to-earnings ratio of 48.67, a PEG ratio of 5.54 and a beta of 0.93. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. On average, equities research analysts predict that RB Global, Inc. will post 1.92 EPS for the current year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a $0.29 dividend. This is a boost 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 1.34%. RB Global’s dividend payout ratio is presently 65.17%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RBA. 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. Royal Bank of Canada increased their target price on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Raymond James raised 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. Finally, BMO Capital Markets assumed coverage on shares of RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.19.

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.