RB Global, Inc. $RBA Stake Decreased by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 38.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,421,315 shares of the business services provider’s stock after selling 1,514,657 shares during the quarter. RB Global accounts for 0.7% of Vontobel Holding Ltd.’s portfolio, making the stock its 29th biggest holding. Vontobel Holding Ltd.’s holdings in RB Global were worth $197,071,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RBA. BlackRock Inc. bought a new position in RB Global during the second quarter valued at about $1,816,059,000. Jupiter Topco LLC bought a new stake in shares of RB Global in the 2nd quarter worth approximately $514,871,000. Lazard Asset Management LLC acquired a new stake in shares of RB Global during the 1st quarter worth approximately $210,091,000. Wellington Management Group LLP acquired a new stake in shares of RB Global during the 2nd quarter worth approximately $201,813,000. Finally, Caisse de depot et placement du Quebec acquired a new stake in shares of RB Global during the 2nd quarter worth approximately $183,651,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RBA shares. Zacks Research cut RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. National Bank Financial raised their target price on RB Global from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Thursday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. Barclays lowered their price target on shares of RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Finally, Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and an average target price of $126.29.

RB Global Price Performance

NYSE RBA traded down $2.66 during trading on Friday, reaching $84.47. 3,854,978 shares of the company traded hands, compared to its average volume of 1,761,938. RB Global, Inc. has a 1-year low of $78.05 and a 1-year high of $119.33. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 1.49 and a beta of 0.53. The stock’s 50 day moving average price is $84.34 and its two-hundred day moving average price is $98.69. 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 (NYSE:RBA) (TSE:RBA) last issued 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 business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, analysts anticipate that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. This is a positive change from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, August 25th. RB Global’s dividend payout ratio (DPR) is currently 56.65%.

Insiders Place Their Bets

In related news, Director Deborah Stein purchased 500 shares of the stock in a transaction on Wednesday, September 9th. The shares were purchased at an average cost of $80.91 per share, for a total transaction of $40,455.00. Following the completion of the transaction, the director directly owned 2,325 shares of the company’s stock, valued at approximately $188,115.75. The trade was a 27.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chloe Harford acquired 1,200 shares of the company’s stock in a transaction on Monday, August 24th. The shares were bought at an average price of $83.74 per share, with a total value of $100,488.00. Following the completion of the purchase, the director directly owned 1,200 shares of the company’s stock, valued at approximately $100,488. This represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

About RB Global

RB Global, Inc (NYSE: RBA) is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.