Occudo Quantitative Strategies LP Reduces Holdings in RB Global, Inc. (NYSE:RBA)

Occudo Quantitative Strategies LP lowered its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,981 shares of the business services provider’s stock after selling 1,204 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in RB Global were worth $1,171,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of RB Global by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock valued at $3,674,000 after acquiring an additional 113 shares in the last quarter. CoreCap Advisors LLC raised its stake in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 129 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of RB Global by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after purchasing an additional 137 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of RB Global by 25.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 0.6%

Shares of NYSE RBA opened at $104.76 on Wednesday. The stock has a market capitalization of $19.40 billion, a PE ratio of 52.12, a P/E/G ratio of 4.95 and a beta of 0.78. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average of $98.52 and a 200-day moving average of $95.13. RB Global, Inc. has a 52-week low of $70.27 and a 52-week high of $107.99.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.89. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. On average, analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 29th. RB Global’s payout ratio is currently 57.14%.

Insider Buying and Selling

In other news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO James J. Jeter sold 3,500 shares of RB Global stock in a transaction on Monday, May 12th. The shares were sold at an average price of $104.38, for a total transaction of $365,330.00. Following the transaction, the executive now owns 16,167 shares in the company, valued at $1,687,511.46. The trade was a 17.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,397 shares of company stock valued at $2,703,491. 4.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. CIBC upped their price objective on shares of RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Friday, May 9th. Royal Bank of Canada increased their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird raised their price objective on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. National Bankshares dropped their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Raymond James increased their target price on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and a consensus price target of $114.50.

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.