SG Americas Securities LLC Raises Position in RB Global, Inc. (NYSE:RBA)

SG Americas Securities LLC lifted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 348.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 81,076 shares of the business services provider’s stock after acquiring an additional 63,007 shares during the period. SG Americas Securities LLC’s holdings in RB Global were worth $6,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Oakworth Capital Inc. grew its holdings in RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 162 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings 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 worth $34,000 after acquiring an additional 165 shares in the last quarter. Signaturefd LLC increased its holdings in RB Global by 11.0% in the 4th quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock worth $128,000 after acquiring an additional 190 shares in the last quarter. Ascent Group LLC lifted its holdings in RB Global by 2.4% during the first quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after purchasing an additional 225 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in shares of RB Global by 4.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 5,386 shares of the business services provider’s stock worth $360,000 after purchasing an additional 250 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Baron Concors sold 13,230 shares of RB Global stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total value of $992,911.50. Following the completion of the transaction, the insider now owns 15,487 shares in the company, valued at $1,162,299.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Baron Concors sold 13,230 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the sale, the insider now owns 15,487 shares in the company, valued at approximately $1,162,299.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darren Jeffrey Watt sold 3,637 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $80.66, for a total value of $293,360.42. Following the completion of the sale, the insider now owns 17,279 shares of the company’s stock, valued at $1,393,724.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,867 shares of company stock worth $3,370,272. 4.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RBA shares. Raymond James lifted their target price on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday. Scotiabank boosted their price objective on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 24th. Royal Bank of Canada upped their price objective on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America lifted their target price on RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, Robert W. Baird upped their price target on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.43.

RB Global Price Performance

RB Global stock traded up $0.65 during midday trading on Friday, reaching $78.94. 814,690 shares of the stock traded hands, compared to its average volume of 954,301. The stock has a market cap of $14.43 billion, a P/E ratio of 47.55, a PEG ratio of 5.36 and a beta of 0.91. The stock’s fifty day moving average is $77.85 and its 200-day moving average is $74.53. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. RB Global, Inc. has a 12 month low of $55.67 and a 12 month high of $81.87.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company earned $0.42 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.04 EPS for the current year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, August 28th. This is an increase 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 1.47%. RB Global’s payout ratio is 65.06%.

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.