Running Oak Capital LLC Acquires 905 Shares of RB Global, Inc. $RBA

Running Oak Capital LLC lifted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,060 shares of the business services provider’s stock after buying an additional 905 shares during the period. RB Global comprises 1.9% of Running Oak Capital LLC’s holdings, making the stock its 11th largest holding. Running Oak Capital LLC owned approximately 0.09% of RB Global worth $17,315,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. SouthState Corp purchased a new position in RB Global in the first quarter worth about $26,000. MV Capital Management Inc. lifted its stake in shares of RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 278 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of RB Global in the 1st quarter worth approximately $28,000. IFP Advisors Inc increased 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 valued at $36,000 after purchasing an additional 279 shares during the last quarter. Finally, Rise Advisors LLC purchased a new stake in RB Global during the 1st quarter valued at $38,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the sale, the insider directly owned 24,874 shares of the company’s stock, valued at approximately $2,736,140. This represents a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,209 shares of company stock valued at $6,090,521. 4.32% of the stock is currently owned by insiders.

RB Global Trading Up 0.4%

Shares of NYSE RBA opened at $108.32 on Monday. RB Global, Inc. has a twelve month low of $78.55 and a twelve month high of $119.58. The firm has a market cap of $20.11 billion, a PE ratio of 53.63, a price-to-earnings-growth ratio of 2.52 and a beta of 0.65. The business has a fifty day simple moving average of $113.54 and a two-hundred day simple moving average of $106.79. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. Analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were issued a $0.31 dividend. This is a boost from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, August 28th. RB Global’s dividend payout ratio is presently 61.39%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBA. Royal Bank Of Canada lifted their price objective on shares of RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. BMO Capital Markets increased their price objective on shares of RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Raymond James Financial upped their target price on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of RB Global in a research note on Saturday, September 27th. Finally, Wall Street Zen upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and a consensus target price of $124.33.

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.