Avantax Advisory Services Inc. Acquires 176 Shares of RB Global, Inc. (NYSE:RBA)

Avantax Advisory Services Inc. grew its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,762 shares of the business services provider’s stock after buying an additional 176 shares during the quarter. Avantax Advisory Services Inc.’s holdings in RB Global were worth $339,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RBA. Jones Financial Companies Lllp grew its stake in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after buying an additional 137 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after buying an additional 143 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after buying an additional 176 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of RB Global by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,510 shares of the business services provider’s stock valued at $3,384,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

RBA has been the topic of a number of research reports. Robert W. Baird lifted their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. CIBC cut their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada increased their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, RB Global has an average rating of “Moderate Buy” and an average target price of $107.64.

Insider Activity

In other RB Global news, CRO James J. Jeter sold 600 shares of RB Global stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is currently owned by company insiders.

RB Global Stock Up 1.2 %

Shares of NYSE RBA opened at $100.12 on Tuesday. The company has a market cap of $18.49 billion, a P/E ratio of 49.81, a PEG ratio of 4.95 and a beta of 0.94. The firm has a 50-day simple moving average of $95.57 and a two-hundred day simple moving average of $91.03. RB Global, Inc. has a 1 year low of $69.83 and a 1 year high of $106.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. Research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.16%. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

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.