Amalgamated Bank Raises Stock Position in RB Global, Inc. $RBA

Amalgamated Bank increased its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,883 shares of the business services provider’s stock after acquiring an additional 1,268 shares during the quarter. Amalgamated Bank’s holdings in RB Global were worth $9,120,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RBA. SouthState Corp purchased a new stake in RB Global in the 1st quarter worth $26,000. SVB Wealth LLC purchased a new stake in RB Global in the 1st quarter worth $28,000. IFP Advisors Inc increased its holdings in RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after acquiring an additional 279 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of RB Global during the first quarter worth $38,000. Finally, Whipplewood Advisors LLC grew its holdings in shares of RB Global by 42.9% during the second quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.32% of the stock is owned by insiders.

RB Global Trading Up 0.5%

Shares of RBA stock opened at $100.36 on Friday. The company’s 50-day moving average price is $109.72 and its 200-day moving average price is $107.49. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The stock has a market cap of $18.63 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 2.48 and a beta of 0.65. RB Global, Inc. has a twelve month low of $84.31 and a twelve month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, equities analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

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

Analyst Upgrades and Downgrades

RBA has been the subject of a number of research reports. Bank of America raised shares of RB Global from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday. CIBC upped their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a report on Friday, July 18th. BMO Capital Markets upped their target price on shares of RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. National Bankshares dropped their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Finally, Royal Bank Of Canada upped their target price on shares of RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and a consensus target price of $123.43.

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.