HighTower Advisors LLC Increases Stock Holdings in RB Global, Inc. (NYSE:RBA)

HighTower Advisors LLC lifted its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,222 shares of the business services provider’s stock after buying an additional 1,271 shares during the quarter. HighTower Advisors LLC’s holdings in RB Global were worth $1,554,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Vontobel Holding Ltd. increased its position in RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after acquiring an additional 753,700 shares during the period. State Street Corp grew its position in shares of RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after purchasing an additional 103,080 shares during the last quarter. Geode Capital Management LLC grew its holdings in RB Global by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock valued at $297,400,000 after buying an additional 108,188 shares during the last quarter. Janus Henderson Group PLC increased its position in RB Global by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock worth $272,293,000 after purchasing an additional 24,101 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of RB Global by 4.1% during the fourth quarter. Fiera Capital Corp now owns 3,216,507 shares of the business services provider’s stock worth $290,000,000 after buying an additional 125,275 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RB Global

In related news, CRO James J. Jeter sold 600 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the transaction, the executive now directly owns 19,667 shares of the company’s stock, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on RBA shares. Robert W. Baird upped their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Raymond James lifted their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, CIBC decreased their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Trading Up 1.2 %

Shares of RBA stock opened at $100.12 on Tuesday. The stock has a fifty day moving average of $95.57 and a two-hundred day moving average of $91.03. The firm has a market capitalization of $18.49 billion, a PE ratio of 49.81, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm 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 earnings per share. As a group, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

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.