XTX Topco Ltd Grows Position in RB Global, Inc. (NYSE:RBA)

XTX Topco Ltd raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 364.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,219 shares of the business services provider’s stock after purchasing an additional 14,294 shares during the quarter. XTX Topco Ltd’s holdings in RB Global were worth $1,391,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RBA. YHB Investment Advisors Inc. purchased a new stake in shares of RB Global in the first quarter worth approximately $27,000. Hollencrest Capital Management purchased a new stake in RB Global in the first quarter worth $33,000. Massmutual Trust Co. FSB ADV increased its stake 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 lifted its position in shares of RB Global by 33.5% during 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 last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of RB Global during the fourth quarter valued at $72,000. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on RBA shares. Bank of America raised their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Robert W. Baird lifted their price target on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. CIBC started coverage on RB Global in a research note on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective on the stock. BMO Capital Markets initiated coverage on RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price for the company. Finally, Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and an average price target of $92.19.

RB Global Stock Down 1.1 %

Shares of NYSE RBA opened at $84.40 on Friday. The stock has a market capitalization of $15.43 billion, a PE ratio of 50.84, a price-to-earnings-growth ratio of 5.43 and a beta of 0.93. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45. The stock’s fifty day simple moving average is $81.85 and its two-hundred day simple moving average is $77.68.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, analysts expect that RB Global, Inc. will post 1.96 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently announced 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 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 1.37%. RB Global’s dividend payout ratio is presently 69.88%.

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 2,920 shares of the 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 owns 23,267 shares in the company, valued at approximately $1,837,162.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. The disclosure for this sale can be found here. Insiders sold a total of 26,718 shares of company stock worth $2,214,474 over the last three months. Corporate insiders own 4.32% of the company’s stock.

RB Global Company 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.