Sei Investments Co. Sells 85,243 Shares of RB Global, Inc. $RBA

Sei Investments Co. lessened its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 21.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 303,912 shares of the business services provider’s stock after selling 85,243 shares during the period. Sei Investments Co.’s holdings in RB Global were worth $29,130,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Personal CFO Solutions LLC grew its holdings in RB Global by 0.9% in the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock valued at $1,073,000 after buying an additional 96 shares during the last quarter. Covestor Ltd lifted its holdings in shares of RB Global by 11.6% during the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock worth $96,000 after buying an additional 97 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of RB Global by 21.9% during 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 last quarter. Coldstream Capital Management Inc. boosted its position in shares of RB Global by 5.4% in the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 105 shares during the period. Finally, Sigma Planning Corp boosted its position in shares of RB Global by 1.4% in the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock valued at $866,000 after acquiring an additional 114 shares during the period. Institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RBA shares. Royal Bank Of Canada raised their price objective on shares of RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Barclays cut their target price on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Zacks Research raised shares of RB Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 3rd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, RB Global has an average rating of “Buy” and a consensus price target of $127.57.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein acquired 425 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the purchase, the director owned 1,825 shares in the company, valued at $188,248.75. This represents a 30.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.57% of the stock is owned by company insiders.

RB Global Price Performance

Shares of NYSE:RBA opened at $116.46 on Tuesday. RB Global, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58. The firm has a market capitalization of $21.59 billion, a PE ratio of 54.17, a PEG ratio of 1.75 and a beta of 0.55. The business’s 50 day moving average is $109.09 and its 200-day moving average is $106.43. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. The business had revenue of $888.01 million for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.RB Global’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 earnings per share. Sell-side analysts predict that RB Global, Inc. will post 4.16 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.1%. RB Global’s payout ratio is presently 57.67%.

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.