Arcadia Investment Management Corp MI Has $126,000 Stock Position in RB Global, Inc. (NYSE:RBA)

Arcadia Investment Management Corp MI lessened its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 75.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,650 shares of the business services provider’s stock after selling 5,000 shares during the period. Arcadia Investment Management Corp MI’s holdings in RB Global were worth $126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its position in RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 165 shares during the period. 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 in the last quarter. Cigna Investments Inc. New raised its holdings in shares of RB Global by 6.6% in the 2nd quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock worth $262,000 after acquiring an additional 212 shares during the last quarter. Ascent Group LLC lifted its position in RB Global by 2.4% in the 1st quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after acquiring an additional 225 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in RB Global by 5.6% during the 1st quarter. Yousif Capital Management LLC now owns 5,221 shares of the business services provider’s stock valued at $398,000 after purchasing an additional 278 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RBA stock traded down $0.09 during trading hours on Friday, hitting $83.69. 49,860 shares of the company were exchanged, compared to its average volume of 1,069,868. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $15.42 billion, a price-to-earnings ratio of 50.46, a P/E/G ratio of 5.50 and a beta of 0.93. The firm has a fifty day simple moving average of $80.28 and a 200 day simple moving average of $76.84. RB Global, Inc. has a 52-week low of $58.85 and a 52-week high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Research analysts predict that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Wednesday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is currently 69.88%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RBA shares. CIBC started coverage on RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price on the stock. Royal Bank of Canada raised their price objective on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Raymond James increased their target price on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Robert W. Baird boosted their price target on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets initiated coverage on shares of RB Global in a research note on Thursday. They issued an “outperform” rating and a $105.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.19.

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.