Arcadia Investment Management Corp MI Sells 5,000 Shares of RB Global, Inc. (NYSE:RBA)

Arcadia Investment Management Corp MI lowered its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 75.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,650 shares of the business services provider’s stock after selling 5,000 shares during the period. Arcadia Investment Management Corp MI’s holdings in RB Global were worth $126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in RB Global by 5.1% in 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. lifted its holdings in shares of RB Global by 1.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock worth $652,590,000 after acquiring an additional 114,225 shares during the last quarter. Vontobel Asset Management Inc. boosted its stake in shares of RB Global by 66.5% in the 4th 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 in the last quarter. Cooke & Bieler LP grew its holdings in shares of RB Global by 3.4% during 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 during the last quarter. Finally, Fiera Capital Corp raised its position in RB Global by 5.7% in 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.

Insider Buying and Selling at RB Global

In related news, insider Darren Jeffrey Watt sold 3,637 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $80.66, for a total transaction of $293,360.42. Following the sale, the insider now directly owns 17,279 shares of the company’s stock, valued at $1,393,724.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CRO James J. Jeter sold 2,920 shares of the firm’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 sale, the executive now owns 23,267 shares in the company, valued at $1,837,162.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darren Jeffrey Watt sold 3,637 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total transaction of $293,360.42. Following 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 20,472 shares of company stock worth $1,669,216. Insiders own 4.32% of the company’s stock.

RB Global Stock Down 0.1 %

Shares of RBA stock traded down $0.09 during mid-day trading on Friday, reaching $83.69. 49,860 shares of the company’s stock traded hands, compared to its average volume of 1,069,868. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $80.28 and its 200-day moving average price is $76.84. The company has a market cap of $15.42 billion, a P/E ratio of 50.46, a P/E/G ratio of 5.50 and a beta of 0.93. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.39%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is 69.88%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RBA shares. Raymond James raised their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird lifted 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, August 7th. Bank of America boosted 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. CIBC began coverage on shares of 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. Finally, Royal Bank of Canada increased their target price on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.19.

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.