Oppenheimer Asset Management Inc. Has $16.52 Million Stock Holdings in RB Global, Inc. (NYSE:RBA)

Oppenheimer Asset Management Inc. reduced its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 216,316 shares of the business services provider’s stock after selling 36,572 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.12% of RB Global worth $16,518,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in RBA. Thoroughbred Financial Services LLC acquired a new stake in RB Global in the 2nd quarter valued at $217,000. Federated Hermes Inc. bought a new stake in shares of RB Global during the 2nd quarter worth about $1,340,000. DekaBank Deutsche Girozentrale boosted its stake in RB Global by 2.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,640 shares of the business services provider’s stock valued at $2,042,000 after purchasing an additional 524 shares during the period. American Century Companies Inc. raised its stake in RB Global by 36.5% in the 2nd quarter. American Century Companies Inc. now owns 59,759 shares of the business services provider’s stock worth $4,559,000 after purchasing an additional 15,983 shares in the last quarter. Finally, AGF Management Ltd. raised its position in shares of RB Global by 138.6% in the 2nd quarter. AGF Management Ltd. now owns 78,489 shares of the business services provider’s stock valued at $5,986,000 after buying an additional 45,587 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBA. CIBC initiated coverage on RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective on the stock. Robert W. Baird raised their target price on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America raised their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. BMO Capital Markets initiated coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price for the company. Finally, Raymond James boosted their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average target price of $92.19.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Darren Jeffrey Watt sold 2,915 shares of the firm’s 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 sale, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The disclosure for this sale can be found here. Insiders sold 34,718 shares of company stock worth $2,861,754 over the last quarter. 4.32% of the stock is currently owned by insiders.

RB Global Stock Up 0.2 %

Shares of NYSE RBA opened at $85.10 on Friday. The business’s fifty day moving average price is $81.01 and its 200-day moving average price is $77.34. RB Global, Inc. has a one year low of $58.85 and a one year high of $87.45. The stock has a market capitalization of $15.56 billion, a PE ratio of 51.27, a P/E/G ratio of 5.41 and a beta of 0.93. 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 (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, equities research analysts anticipate that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.36%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is 69.88%.

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.