RB Global, Inc. $RBA Shares Bought by Callan Family Office LLC

Callan Family Office LLC boosted its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 87.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,749 shares of the business services provider’s stock after buying an additional 2,220 shares during the period. Callan Family Office LLC’s holdings in RB Global were worth $504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RBA. SouthState Corp acquired a new position in RB Global during the first quarter worth $26,000. SVB Wealth LLC acquired a new position in RB Global during the first quarter worth $28,000. IFP Advisors Inc boosted its stake in RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after buying an additional 279 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of RB Global in the 1st quarter valued at $38,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank Of Canada upped their price target on RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. National Bankshares decreased their price target on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. CIBC upped their price target on RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research note on Friday, July 18th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings raised RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.00.

RB Global Price Performance

Shares of NYSE RBA opened at $105.79 on Wednesday. The stock’s 50-day moving average is $113.06 and its two-hundred day moving average is $107.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global, Inc. has a 1-year low of $78.55 and a 1-year high of $119.58. The company has a market cap of $19.64 billion, a price-to-earnings ratio of 52.37, a price-to-earnings-growth ratio of 2.44 and a beta of 0.65.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.94 EPS. RB Global’s revenue was up 8.2% on a year-over-year basis. Analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.29. RB Global’s dividend payout ratio (DPR) is currently 61.39%.

RB Global Company 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.