Nicholas Company Inc. Sells 36,755 Shares of RB Global, Inc. $RBA

Nicholas Company Inc. decreased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 14.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,993 shares of the business services provider’s stock after selling 36,755 shares during the quarter. Nicholas Company Inc.’s holdings in RB Global were worth $23,680,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in RB Global by 28.6% in the first quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider’s stock worth $161,000 after purchasing an additional 358 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in RB Global by 1.8% in the second quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock worth $73,115,000 after purchasing an additional 11,881 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new position in RB Global in the second quarter worth $19,717,000. Voya Investment Management LLC raised its holdings in RB Global by 12.8% in the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock worth $3,389,000 after purchasing an additional 3,847 shares in the last quarter. Finally, Wilson Asset Management International PTY Ltd. increased its holdings in shares of RB Global by 9.5% during the second quarter. Wilson Asset Management International PTY Ltd. now owns 159,402 shares of the business services provider’s stock valued at $16,927,000 after acquiring an additional 13,814 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RBA has been the subject of several analyst reports. CIBC raised their price target on RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a report on Friday, July 18th. National Bankshares reduced their price target on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Royal Bank Of Canada raised their price target on RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Raymond James Financial raised their price target on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, BMO Capital Markets raised their price target on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, RB Global has an average rating of “Moderate Buy” and a consensus target price of $123.43.

Insider Buying and Selling

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.32% of the company’s stock.

RB Global Price Performance

NYSE RBA opened at $99.16 on Friday. RB Global, Inc. has a one year low of $84.31 and a one year high of $119.58. The stock has a 50-day moving average of $109.38 and a 200 day moving average of $107.57. The company has a market capitalization of $18.41 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 2.48 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $0.94 EPS. RB Global’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date was Thursday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.29. RB Global’s dividend payout ratio is 61.39%.

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.