Arlington Partners LLC Sells 7,060 Shares of RB Global, Inc. (NYSE:RBA)

Arlington Partners LLC lessened its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,219 shares of the business services provider’s stock after selling 7,060 shares during the period. Arlington Partners LLC’s holdings in RB Global were worth $3,071,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Brevan Howard Capital Management LP bought a new stake in RB Global in the fourth quarter worth about $2,009,000. Intech Investment Management LLC purchased a new position in RB Global during the 1st quarter valued at $613,000. Charles Schwab Investment Management Inc. grew its position in RB Global by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,030,810 shares of the business services provider’s stock valued at $68,951,000 after acquiring an additional 24,684 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in RB Global by 25.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after purchasing an additional 74,809 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of RB Global by 3.9% during the fourth quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock worth $40,567,000 after purchasing an additional 22,636 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 3,637 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total transaction of $293,360.42. Following the completion of the sale, the insider now owns 17,279 shares of the company’s stock, valued at $1,393,724.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Francis Kessler sold 8,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total transaction of $647,280.00. Following the completion of the sale, the chief executive officer now owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Darren Jeffrey Watt sold 3,637 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total transaction of $293,360.42. Following the sale, 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 a total of 20,472 shares of company stock worth $1,669,216 in the last 90 days. 4.32% of the stock is owned by corporate insiders.

RB Global Stock Down 1.3 %

RB Global stock traded down $1.12 during mid-day trading on Friday, reaching $82.66. 510,316 shares of the company were exchanged, compared to its average volume of 1,072,545. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The firm has a market cap of $15.11 billion, a P/E ratio of 49.80, a PEG ratio of 5.50 and a beta of 0.93. The business has a fifty day moving average of $80.40 and a 200 day moving average of $77.00. RB Global, Inc. has a 12-month low of $58.85 and a 12-month high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share 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 firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $0.42 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. Research analysts anticipate that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s payout ratio is presently 69.88%.

Analyst Ratings Changes

A number of research firms have recently commented on RBA. Robert W. Baird upped 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. CIBC assumed coverage on shares of RB Global in a research note on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price on the stock. BMO Capital Markets started coverage on shares of RB Global in a research note on Thursday. They set an “outperform” rating and a $105.00 price target for the company. Bank of America increased their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Raymond James lifted their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Two 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.com, the company 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.