Independent Franchise Partners LLP Sells 47,859 Shares of RB Global, Inc. $RBA

Independent Franchise Partners LLP lessened its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,697,981 shares of the business services provider’s stock after selling 47,859 shares during the quarter. RB Global accounts for 4.0% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 13th largest position. Independent Franchise Partners LLP owned approximately 3.07% of RB Global worth $605,069,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SouthState Corp bought a new position in RB Global in the 1st quarter valued at $26,000. SVB Wealth LLC bought a new stake in RB Global in the first quarter valued at approximately $28,000. Rise Advisors LLC purchased a new position in shares of RB Global in the first quarter valued at about $38,000. Whipplewood Advisors LLC grew 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 worth $48,000 after buying an additional 137 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in 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. 95.37% of the stock is currently owned by institutional investors.

RB Global Price Performance

Shares of NYSE:RBA opened at $97.80 on Wednesday. The company’s fifty day moving average price is $101.62 and its 200 day moving average price is $107.18. The firm has a market capitalization of $18.16 billion, a P/E ratio of 48.41, a P/E/G ratio of 2.48 and a beta of 0.56. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global, Inc. has a 12 month low of $86.68 and a 12 month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.10. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted $0.71 EPS. The company’s revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, November 26th. RB Global’s dividend payout ratio (DPR) is 59.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RBA shares. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Bank of America decreased their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada raised their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, National Bankshares dropped their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.88.

Insider Buying and Selling at RB Global

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Deborah Stein purchased 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $101.26 per share, with a total value of $101,260.00. Following the completion of the acquisition, the director directly owned 1,000 shares in the company, valued at $101,260. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 4.32% of the company’s stock.

About RB Global

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.