Xponance Inc. Increases Stake in RB Global, Inc. (NYSE:RBA)

Xponance Inc. lifted its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,149 shares of the business services provider’s stock after acquiring an additional 1,300 shares during the period. Xponance Inc.’s holdings in RB Global were worth $1,908,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RBA. Central Pacific Bank Trust Division purchased a new position in RB Global in the fourth quarter valued at approximately $27,000. Diversified Trust Co raised its holdings in RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after buying an additional 20,724 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after buying an additional 20,795 shares during the period. SRS Capital Advisors Inc. raised its holdings in RB Global by 163.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock valued at $58,000 after buying an additional 400 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Performance

NYSE:RBA opened at $99.14 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The firm has a 50-day moving average of $95.35 and a two-hundred day moving average of $90.82. The stock has a market cap of $18.32 billion, a P/E ratio of 49.33, a PEG ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results 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). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business posted $0.82 EPS. On average, research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.17%. RB Global’s payout ratio is 57.71%.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. The trade was a 27.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on RBA shares. Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets upped their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. CIBC dropped their price target 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. Finally, Raymond James upped their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.64.

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.