Summit Trail Advisors LLC Takes $315,000 Position in RB Global, Inc. (NYSE:RBA)

Summit Trail Advisors LLC purchased a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,130 shares of the business services provider’s stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RBA. Vanguard Group Inc. raised its position in RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after buying an additional 1,153,497 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in RB Global by 1.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock worth $652,590,000 after purchasing an additional 114,225 shares in the last quarter. Vontobel Asset Management Inc. lifted its position in RB Global by 66.5% in the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock valued at $467,920,000 after purchasing an additional 2,655,388 shares during the period. Cooke & Bieler LP boosted its holdings in RB Global by 3.4% in the 2nd quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock valued at $252,865,000 after purchasing an additional 109,056 shares in the last quarter. Finally, Fiera Capital Corp increased its position in RB Global by 5.7% during the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after purchasing an additional 168,945 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction dated Monday, August 19th. The stock was 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 in the company, valued at approximately $1,595,638.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following 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 have sold 26,718 shares of company stock valued at $2,214,474 in the last ninety days. Insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on RBA shares. CIBC assumed coverage on RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price target for the company. Bank of America boosted their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. 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. Raymond James boosted their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada increased their target price on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.19.

RB Global Stock Down 0.0 %

RBA stock opened at $84.37 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $87.45. The firm has a market capitalization of $15.43 billion, a PE ratio of 50.83, a P/E/G ratio of 5.43 and a beta of 0.93. The company’s 50 day simple moving average is $81.94 and its 200-day simple moving average is $77.77.

RB Global (NYSE:RBA) (TSE:RBA) last released 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. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.42 earnings per share. RB Global’s revenue was down .9% compared to the same quarter last year. Equities analysts expect that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.37%. This is a positive change from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. RB Global’s dividend payout ratio is 69.88%.

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.