Oliver Luxxe Assets LLC Increases Position in RB Global, Inc. (NYSE:RBA)

Oliver Luxxe Assets LLC raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 55.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,553 shares of the business services provider’s stock after purchasing an additional 9,497 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in RB Global were worth $2,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RBA. Hollencrest Capital Management purchased a new stake in shares of RB Global during the first quarter worth $33,000. Massmutual Trust Co. FSB ADV increased its position in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after acquiring an additional 165 shares during the period. UMB Bank n.a. increased its position in shares of RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after acquiring an additional 388 shares during the period. Quarry LP purchased a new stake in shares of RB Global during the second quarter worth $53,000. Finally, Nisa Investment Advisors LLC increased its position in shares of RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Transactions at RB Global

In related news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at $1,837,162.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at $1,837,162.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,601 shares of company stock worth $3,720,043. Company insiders own 4.32% of the company’s stock.

RB Global Stock Performance

NYSE RBA opened at $80.08 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45. The company has a market capitalization of $14.64 billion, a PE ratio of 48.24, a P/E/G ratio of 5.27 and a beta of 0.93. The company has a fifty day moving average of $82.36 and a two-hundred day moving average of $78.25.

RB Global (NYSE:RBA) (TSE:RBA) last announced 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 net margin of 8.67% and a return on equity of 7.27%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. As a group, analysts expect that RB Global, Inc. will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were paid a dividend of $0.29 per share. This is an increase from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.45%. RB Global’s dividend payout ratio is 69.88%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RBA shares. CIBC started coverage on RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective on the stock. Raymond James upped 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. Bank of America increased their target price on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. BMO Capital Markets started coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 target price on the stock. Finally, Robert W. Baird increased their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $92.19.

RB Global 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.