Moore Capital Management LP Sells 101,855 Shares of RB Global, Inc. $RBA

Moore Capital Management LP trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 42.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 135,802 shares of the business services provider’s stock after selling 101,855 shares during the quarter. Moore Capital Management LP’s holdings in RB Global were worth $14,716,000 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 the stock. Laird Norton Wetherby Wealth Management LLC purchased a new position in RB Global in the third quarter worth about $221,000. Kensico Capital Management Corp raised its position in RB Global by 152.0% during the third quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock valued at $113,128,000 after purchasing an additional 629,700 shares during the period. Holocene Advisors LP bought a new stake in shares of RB Global in the 3rd quarter valued at approximately $53,111,000. Gotham Asset Management LLC lifted its stake in shares of RB Global by 26.7% in the 3rd quarter. Gotham Asset Management LLC now owns 274,963 shares of the business services provider’s stock valued at $29,795,000 after purchasing an additional 57,952 shares during the last quarter. Finally, Eventide Asset Management LLC boosted its holdings in shares of RB Global by 0.4% in the 3rd quarter. Eventide Asset Management LLC now owns 526,319 shares of the business services provider’s stock worth $57,026,000 after purchasing an additional 2,187 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 0.3%

Shares of NYSE RBA opened at $99.02 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. The business’s 50 day moving average price is $108.22 and its 200-day moving average price is $106.06. RB Global, Inc. has a fifty-two week low of $87.87 and a fifty-two week high of $119.58. The company has a market cap of $18.41 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 1.50 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. RB Global had a return on equity of 11.12% and a net margin of 9.33%.RB Global’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. On average, sell-side analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, February 9th were issued a $0.31 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. RB Global’s dividend payout ratio is presently 60.78%.

Analysts Set New Price Targets

Several research firms recently weighed in on RBA. Raymond James Financial increased their price target on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. BMO Capital Markets lifted their price objective on shares of RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Royal Bank Of Canada increased their target price on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Finally, National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a report on Monday, November 24th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, RB Global presently has an average rating of “Buy” and an average target price of $129.29.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares of the company’s stock, valued at $12,370,435. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.

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.