EverSource Wealth Advisors LLC Trims Stock Position in RB Global, Inc. (NYSE:RBA)

EverSource Wealth Advisors LLC trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,347 shares of the business services provider’s stock after selling 975 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in RB Global were worth $4,821,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. YHB Investment Advisors Inc. purchased a new position in RB Global in the first quarter worth $27,000. Hollencrest Capital Management purchased a new position in RB Global in the first quarter worth $33,000. Oakworth Capital Inc. grew its holdings in RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC purchased a new position in RB Global in the fourth quarter worth $54,000. Finally, Brown Brothers Harriman & Co. purchased a new position in RB Global in the fourth quarter worth $72,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now directly owns 78,104 shares in the company, valued at approximately $6,319,394.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO James Francis Kessler sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now directly owns 78,104 shares in the company, valued at approximately $6,319,394.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Baron Concors sold 13,230 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the sale, the insider now directly owns 15,487 shares in the company, valued at $1,162,299.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,867 shares of company stock worth $3,370,272. 4.32% of the stock is currently owned by insiders.

RB Global Price Performance

Shares of RBA stock traded down $1.32 on Friday, reaching $74.77. 1,312,887 shares of the company were exchanged, compared to its average volume of 850,655. RB Global, Inc. has a 1 year low of $55.67 and a 1 year high of $81.87. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 45.04, a P/E/G ratio of 5.20 and a beta of 0.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.17 and a current ratio of 1.29. The business has a 50-day moving average price of $77.59 and a 200 day moving average price of $74.01.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.15. RB Global had a net margin of 8.08% and a return on equity of 6.87%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Equities research analysts forecast that RB Global, Inc. will post 2.04 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, May 29th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $1.08 annualized dividend and a yield of 1.44%. RB Global’s payout ratio is 65.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RBA shares. Bank of America lifted their price objective on shares of RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. CIBC started coverage on shares of RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective for the company. Finally, Scotiabank lifted their price objective on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

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.