Exchange Traded Concepts LLC Makes New Investment in RB Global, Inc. (NYSE:RBA)

Exchange Traded Concepts LLC acquired a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,824 shares of the business services provider’s stock, valued at approximately $710,000.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management bought a new stake in shares of RB Global in the first quarter worth $33,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of 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 acquiring an additional 165 shares during the period. UMB Bank n.a. grew its holdings in shares of RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after acquiring an additional 388 shares during the period. Quarry LP bought a new stake in shares of RB Global in the second quarter worth $53,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares during the period. Institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of RB Global 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of RB Global 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 transaction, the chief executive officer now owns 86,247 shares in the company, valued at $7,166,263.23. The trade was 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 at the SEC website. Also, insider Darren Jeffrey Watt sold 2,915 shares of RB Global 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 transaction, the insider now owns 19,271 shares in the company, valued at $1,595,638.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,601 shares of company stock worth $3,720,043 over the last three months. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on RBA. Bank of America lifted their target price on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird boosted 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. BMO Capital Markets initiated coverage on RB Global in a research report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective on the stock. Royal Bank of Canada boosted 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. Finally, Raymond James raised their price target on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global Stock Up 0.7 %

NYSE RBA opened at $81.11 on Friday. RB Global, Inc. has a 52 week low of $58.85 and a 52 week high of $87.45. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 45.57, a PEG ratio of 5.28 and a beta of 0.93. The company has a fifty day moving average of $82.71 and a two-hundred day moving average of $78.36. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last released its 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts predict that RB Global, Inc. will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were issued a $0.29 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Wednesday, August 28th. RB Global’s payout ratio is presently 65.17%.

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.