New Age Alpha Advisors LLC Makes New $3.64 Million Investment in RB Global, Inc. (NYSE:RBA)

New Age Alpha Advisors LLC purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 4th quarter, HoldingsChannel reports. The fund purchased 40,331 shares of the business services provider’s stock, valued at approximately $3,638,000.

A number of other institutional investors also recently modified their holdings of RBA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in RB Global by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock valued at $3,674,000 after buying an additional 113 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 129 shares in the last quarter. Summit Trail Advisors LLC raised its stake in shares of RB Global by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock valued at $279,000 after purchasing an additional 137 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in RB Global by 25.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after purchasing an additional 143 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RBA shares. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday. CIBC lowered their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird boosted their price target on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James increased their price objective on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets boosted their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

Insider Activity

In other news, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. The trade was a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO James J. Jeter sold 600 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the transaction, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,897 shares of company stock valued at $2,338,161. Corporate insiders own 4.32% of the company’s stock.

RB Global Stock Down 2.4 %

Shares of NYSE:RBA opened at $97.90 on Friday. The firm has a fifty day moving average of $96.38 and a 200 day moving average of $91.38. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The firm has a market capitalization of $18.09 billion, a PE ratio of 48.70, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter last year, the company posted $0.82 earnings per share. As a group, research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

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.