RB Global, Inc. (NYSE:RBA) Shares Sold by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC trimmed its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 40.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,966 shares of the business services provider’s stock after selling 15,484 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in RB Global were worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vontobel Asset Management Inc. increased its stake in shares of RB Global by 66.5% during the 4th quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after purchasing an additional 2,655,388 shares in the last quarter. Norges Bank acquired a new stake in RB Global during the 4th quarter valued at $141,970,000. Vanguard Group Inc. increased its position in RB Global by 5.1% during the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after buying an additional 1,153,497 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of RB Global by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after acquiring an additional 787,042 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of RB Global by 1,879.0% in the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after acquiring an additional 594,941 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Raymond James lifted their price objective on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price objective on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets assumed coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective on the stock. Robert W. Baird lifted their target price on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, CIBC started coverage on RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global Stock Performance

NYSE:RBA opened at $83.48 on Tuesday. The company has a market cap of $15.27 billion, a P/E ratio of 50.29, a P/E/G ratio of 5.28 and a beta of 0.93. The firm’s 50 day moving average is $80.56 and its two-hundred day moving average is $77.18. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $87.45. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted $0.42 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. Analysts expect that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be paid a $0.29 dividend. This is a positive change from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Wednesday, August 28th. RB Global’s payout ratio is currently 69.88%.

Insider Transactions at RB Global

In related news, insider Darren Jeffrey Watt sold 3,637 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total value of $293,360.42. Following the transaction, the insider now owns 17,279 shares in the company, valued at $1,393,724.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Darren Jeffrey Watt sold 3,637 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total transaction of $293,360.42. Following the completion of the sale, the insider now directly owns 17,279 shares of the company’s stock, valued at approximately $1,393,724.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares in the company, valued at $1,837,162.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,472 shares of company stock worth $1,669,216. 4.32% of the stock is currently owned by company insiders.

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.