Sanctuary Advisors LLC Makes New Investment in RB Global, Inc. $RBA

Sanctuary Advisors LLC purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,130 shares of the business services provider’s stock, valued at approximately $714,000.

Other hedge funds also recently made changes to their positions in the company. Personal CFO Solutions LLC grew its holdings in RB Global by 0.9% in the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock worth $1,073,000 after buying an additional 96 shares in the last quarter. Covestor Ltd increased its position in RB Global by 11.6% in the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after acquiring an additional 97 shares during the period. Geneos Wealth Management Inc. raised its stake in RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in RB Global by 5.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 105 shares in the last quarter. Finally, Sigma Planning Corp boosted its position in RB Global by 1.4% during the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock worth $866,000 after acquiring an additional 114 shares during the period. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RBA. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Barclays decreased their target price on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Royal Bank Of Canada raised their target price on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Zacks Research downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and an average price target of $128.00.

Insider Activity at RB Global

In other RB Global news, Director Chloe Harford bought 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average cost of $83.74 per share, for a total transaction of $100,488.00. Following the acquisition, the director directly owned 1,200 shares of the company’s stock, valued at $100,488. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.57% of the stock is owned by insiders.

RB Global Trading Up 0.1%

Shares of RBA stock opened at $85.94 on Friday. The stock has a 50-day simple moving average of $103.30 and a 200 day simple moving average of $103.19. RB Global, Inc. has a fifty-two week low of $82.03 and a fifty-two week high of $119.58. The stock has a market capitalization of $15.91 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.47 and a beta of 0.56. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, sell-side analysts expect that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 1.5%. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio is presently 56.65%.

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.