Mutual of America Capital Management LLC Invests $8.03 Million in RB Global, Inc. (NYSE:RBA)

Mutual of America Capital Management LLC bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 105,185 shares of the business services provider’s stock, valued at approximately $8,032,000. Mutual of America Capital Management LLC owned about 0.06% of RB Global as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of RBA. YHB Investment Advisors Inc. bought a new position in shares of RB Global during the 1st quarter valued at approximately $27,000. Hollencrest Capital Management bought a new position in shares of RB Global during the 1st quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV grew its position in RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 165 shares during the last quarter. Nisa Investment Advisors LLC grew its position in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in RB Global in the 4th quarter valued at $72,000. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

RBA opened at $85.31 on Friday. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45. 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’s fifty day simple moving average is $81.75 and its 200-day simple moving average is $77.62. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 51.39, a PEG ratio of 5.42 and a beta of 0.93.

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, topping analysts’ consensus estimates of $0.88 by $0.06. The firm had revenue of $1.10 billion during 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 firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. On average, equities research analysts anticipate that RB Global, Inc. will post 1.96 earnings per share for the current fiscal 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 paid a dividend of $0.29 per share. This is a boost from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Wednesday, August 28th. RB Global’s dividend payout ratio is 69.88%.

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the 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 in the company, valued at $7,166,263.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction dated 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 owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The disclosure for this sale can be found here. Insiders sold 26,718 shares of company stock worth $2,214,474 in the last three months. 4.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on RBA. Raymond James upped their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada upped their price objective on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Robert W. Baird upped their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America upped their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, CIBC initiated coverage on RB Global in a research report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.