Blue Trust Inc. Buys 129 Shares of RB Global, Inc. $RBA

Blue Trust Inc. raised its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,110 shares of the business services provider’s stock after acquiring an additional 129 shares during the period. Blue Trust Inc.’s holdings in RB Global were worth $224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp bought a new stake in shares of RB Global during the 1st quarter valued at $26,000. SVB Wealth LLC bought a new stake in shares of RB Global during the 1st quarter valued at $28,000. IFP Advisors Inc raised its position in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 279 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of RB Global during the 1st quarter valued at $38,000. Finally, Geneos Wealth Management Inc. raised its position in shares of 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 during the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.28% of the stock is currently owned by corporate insiders.

RB Global Price Performance

Shares of NYSE RBA opened at $105.79 on Wednesday. The firm has a market cap of $19.64 billion, a PE ratio of 52.37, a PEG ratio of 2.44 and a beta of 0.65. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a 1-year low of $78.55 and a 1-year high of $119.58. The company has a fifty day moving average price of $113.06 and a 200 day moving average price of $107.02.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. Research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.31 per share. The ex-dividend date was Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from RB Global’s previous quarterly dividend of $0.29. RB Global’s dividend payout ratio (DPR) is currently 61.39%.

Wall Street Analyst Weigh In

Several analysts have commented on RBA shares. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday. CIBC upped their price objective on shares of RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research report on Friday, July 18th. Raymond James Financial upped their price objective on shares of RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on shares of RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

About RB Global

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.