Hardy Reed LLC Makes New $210,000 Investment in RB Global, Inc. $RBA

Hardy Reed LLC purchased a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,975 shares of the business services provider’s stock, valued at approximately $210,000.

Other large investors also recently modified their holdings of the company. SouthState Corp bought a new stake in shares of RB Global in the 1st quarter valued at $26,000. MV Capital Management Inc. grew its holdings in RB Global by 5,560.0% in the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after purchasing an additional 278 shares during the period. SVB Wealth LLC bought a new stake in RB Global in the first quarter valued at $28,000. IFP Advisors Inc boosted its position in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after purchasing an additional 279 shares in the last quarter. Finally, Rise Advisors LLC bought a new position in shares of RB Global during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 45,658 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $5,022,380.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at approximately $11,832,590. This represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the transaction, the insider directly owned 24,874 shares of the company’s stock, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,209 shares of company stock worth $6,090,521 over the last three months. 0.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

RBA has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RB Global in a research note on Saturday, September 27th. Royal Bank Of Canada boosted their price objective on RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen raised RB Global from a “hold” rating to a “buy” rating in a research report on Friday. CIBC lifted their price target on shares of RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research report on Friday, July 18th. Finally, BMO Capital Markets boosted their price target on shares of RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average price target of $124.33.

RB Global Stock Performance

Shares of RB Global stock opened at $107.63 on Tuesday. The business’s fifty day simple moving average is $113.52 and its 200 day simple moving average is $106.85. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a 12 month low of $78.55 and a 12 month high of $119.58. The firm has a market capitalization of $19.98 billion, a P/E ratio of 53.28, a price-to-earnings-growth ratio of 2.52 and a beta of 0.65.

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

RB Global Increases Dividend

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