Legacy Wealth Asset Management LLC Buys 14,755 Shares of RB Global, Inc. $RBA

Legacy Wealth Asset Management LLC lifted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 127.3% during the second quarter, Holdings Channel.com reports. The firm owned 26,343 shares of the business services provider’s stock after purchasing an additional 14,755 shares during the period. RB Global accounts for 0.7% of Legacy Wealth Asset Management LLC’s holdings, making the stock its 22nd biggest position. Legacy Wealth Asset Management LLC’s holdings in RB Global were worth $3,068,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in shares of RB Global by 9.2% in the first quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock valued at $19,873,000 after buying an additional 17,489 shares in the last quarter. Wilson Asset Management International PTY Ltd. raised its position in RB Global by 8.5% in the fourth quarter. Wilson Asset Management International PTY Ltd. now owns 139,295 shares of the business services provider’s stock worth $14,329,000 after acquiring an additional 10,951 shares in the last quarter. Bank of America Corp DE lifted its holdings in RB Global by 7.8% in the first quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock valued at $139,216,000 after acquiring an additional 104,560 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of RB Global by 20.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 173,358 shares of the business services provider’s stock worth $17,833,000 after purchasing an additional 29,530 shares in the last quarter. Finally, Tectonic Advisors LLC increased its holdings in shares of RB Global by 78.3% in the 4th quarter. Tectonic Advisors LLC now owns 59,867 shares of the business services provider’s stock valued at $6,159,000 after purchasing an additional 26,286 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In other news, Director Deborah Stein purchased 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the purchase, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of RB Global in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Weiss Ratings raised RB Global from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Stephens restated an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Finally, National Bank Financial raised their price objective on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, RB Global has a consensus rating of “Buy” and an average price target of $128.00.

RB Global Trading Down 0.1%

NYSE RBA opened at $94.65 on Monday. The firm has a market capitalization of $17.52 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 1.58 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. RB Global, Inc. has a one year low of $92.15 and a one year high of $119.58. The company’s 50 day moving average price is $109.42 and its 200 day moving average price is $106.18.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, sell-side analysts predict that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.4%. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is 53.22%.

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.