Raymond James & Associates Has $9.56 Million Stock Position in RB Global, Inc. (NYSE:RBA)

Raymond James & Associates trimmed its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,811 shares of the business services provider’s stock after selling 3,772 shares during the quarter. Raymond James & Associates owned about 0.06% of RB Global worth $9,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBA. Blue Trust Inc. raised its stake in shares of RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock valued at $113,000 after purchasing an additional 157 shares during the period. Trust Point Inc. boosted its position in RB Global by 2.2% during the 3rd quarter. Trust Point Inc. now owns 29,136 shares of the business services provider’s stock worth $2,345,000 after acquiring an additional 615 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of RB Global during the 3rd quarter worth approximately $210,000. Creative Planning lifted its position in shares of RB Global by 27.6% in the third quarter. Creative Planning now owns 19,811 shares of the business services provider’s stock worth $1,595,000 after purchasing an additional 4,285 shares in the last quarter. Finally, Oliver Luxxe Assets LLC boosted its holdings in RB Global by 55.7% during the third quarter. Oliver Luxxe Assets LLC now owns 26,553 shares of the business services provider’s stock worth $2,137,000 after purchasing an additional 9,497 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RBA shares. Royal Bank of Canada upped their target price on 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 upped their price objective on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Raymond James raised their target price on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. BMO Capital Markets began coverage on shares of RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target on the stock. Finally, Bank of America lifted their price objective 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.19.

RB Global Trading Up 0.6 %

NYSE:RBA opened at $86.63 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The firm has a market cap of $15.98 billion, a P/E ratio of 48.67, a P/E/G ratio of 5.54 and a beta of 0.93. The firm’s fifty day moving average is $83.31 and its 200-day moving average is $78.87. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45.

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

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were issued a $0.29 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $1.16 annualized dividend and a yield of 1.34%. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is presently 65.17%.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive now owns 23,267 shares in the company, valued at $1,837,162.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares in the company, valued at approximately $1,733,841.85. The trade was 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 worth $3,720,043 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

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.