Vontobel Holding Ltd. Cuts Position in RB Global, Inc. (NYSE:RBA)

by · The Markets Daily

Vontobel Holding Ltd. reduced its position in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,697,446 shares of the business services provider’s stock after selling 31,413 shares during the period. RB Global comprises about 2.0% of Vontobel Holding Ltd.’s holdings, making the stock its 12th largest holding. Vontobel Holding Ltd. owned about 4.21% of RB Global worth $619,567,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RBA. Hollencrest Capital Management purchased a new position in RB Global in the first quarter valued at $33,000. Massmutual Trust Co. FSB ADV boosted its stake in RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after purchasing an additional 165 shares during the period. UMB Bank n.a. grew its position in RB Global by 196.0% during the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after purchasing an additional 388 shares during the last quarter. Quarry LP acquired a new position in RB Global in the second quarter valued at $53,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the sale, the executive now directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CRO James J. Jeter sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the transaction, the executive now directly owns 20,267 shares in the company, valued at approximately $1,733,841.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the sale, the executive now directly owns 23,267 shares in the company, valued at $1,837,162.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock worth $3,720,043 over the last ninety days. Company insiders own 4.32% of the company’s stock.

RB Global Stock Down 0.6 %

Shares of RB Global stock traded down $0.47 during trading on Wednesday, reaching $80.33. The company had a trading volume of 80,593 shares, compared to its average volume of 1,031,567. The company has a market cap of $14.69 billion, a price-to-earnings ratio of 48.67, a price-to-earnings-growth ratio of 5.27 and a beta of 0.93. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $87.45. The firm’s fifty day moving average is $82.55 and its 200-day moving average is $78.28. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm earned $0.42 EPS. The business’s revenue was down .9% on a year-over-year basis. On average, analysts anticipate that RB Global, Inc. will post 1.92 EPS for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio is currently 69.88%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Robert W. Baird boosted their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. CIBC assumed coverage on RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective on the stock. Raymond James increased their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Royal Bank of Canada lifted their price target on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Bank of America increased their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.19.

View Our Latest Stock Report on RBA

About RB Global

(Free Report)

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.

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