Sequoia Financial Advisors LLC Raises Stock Holdings in RB Global, Inc. $RBA

Sequoia Financial Advisors LLC lifted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 13.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,009 shares of the business services provider’s stock after buying an additional 478 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in RB Global were worth $426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geneos Wealth Management Inc. raised its holdings in shares of RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after buying an additional 97 shares during the period. Securian Asset Management Inc. raised its holdings in shares of RB Global by 0.7% in the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider’s stock worth $1,408,000 after buying an additional 100 shares during the period. Nisa Investment Advisors LLC grew its stake in RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock worth $106,000 after purchasing an additional 104 shares in the last quarter. Wealth Alliance LLC grew its stake in RB Global by 2.7% in the first quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider’s stock worth $399,000 after purchasing an additional 104 shares in the last quarter. Finally, Fullcircle Wealth LLC grew its stake in RB Global by 5.5% in the first quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider’s stock worth $235,000 after purchasing an additional 124 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.32% of the company’s stock.

RB Global Stock Up 0.7%

RB Global stock opened at $99.69 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. The stock has a market capitalization of $18.51 billion, a price-to-earnings ratio of 49.35, a PEG ratio of 2.30 and a beta of 0.65. RB Global, Inc. has a 1-year low of $80.98 and a 1-year high of $119.58. The business has a fifty day moving average price of $112.11 and a 200-day moving average price of $107.16.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. This is an increase from RB Global’s previous quarterly dividend of $0.29. RB Global’s payout ratio is presently 61.39%.

Analyst Upgrades and Downgrades

RBA has been the topic of several research analyst reports. CIBC increased their price objective on RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Raymond James Financial increased their target price on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. National Bankshares dropped their target price on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada increased their target price on RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.00.

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.