K.J. Harrison & Partners Inc Decreases Stake in RB Global, Inc. $RBA

K.J. Harrison & Partners Inc reduced its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 26.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 62,949 shares of the business services provider’s stock after selling 23,200 shares during the period. RB Global comprises about 1.1% of K.J. Harrison & Partners Inc’s holdings, making the stock its 21st biggest position. K.J. Harrison & Partners Inc’s holdings in RB Global were worth $6,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SouthState Corp purchased a new position in shares of RB Global in the 1st quarter valued at approximately $26,000. SVB Wealth LLC purchased a new position in shares of RB Global in the 1st quarter valued at approximately $28,000. IFP Advisors Inc raised its position in shares of RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 279 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of RB Global in the 1st quarter valued at approximately $38,000. Finally, Whipplewood Advisors LLC raised its position in shares of RB Global by 42.9% in the 2nd quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 137 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RB Global

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction on 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 available at this link. Corporate insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RBA shares. Wall Street Zen raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Raymond James Financial raised their price target on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Bank of America raised shares of RB Global from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, October 28th. Finally, National Bankshares reduced their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research report on Thursday, October 9th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $123.43.

RB Global Price Performance

NYSE:RBA opened at $99.16 on Monday. 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 firm has a market cap of $18.41 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 2.48 and a beta of 0.65. The company has a 50 day moving average price of $109.38 and a 200-day moving average price of $107.65. RB Global, Inc. has a 1-year low of $84.31 and a 1-year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last posted its 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 during the quarter, compared to analyst estimates of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.31 per share. This is a positive change from RB Global’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. RB Global’s payout ratio is presently 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.