BW Gestao de Investimentos Ltda. Sells 88,152 Shares of RB Global, Inc. (NYSE:RBA)

BW Gestao de Investimentos Ltda. lowered its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 12.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 613,386 shares of the business services provider’s stock after selling 88,152 shares during the quarter. RB Global comprises 2.6% of BW Gestao de Investimentos Ltda.’s investment portfolio, making the stock its 4th biggest holding. BW Gestao de Investimentos Ltda. owned about 0.34% of RB Global worth $46,838,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of RB Global in the 4th quarter valued at $900,000. Yousif Capital Management LLC increased its holdings in shares of RB Global by 41.7% during the fourth quarter. Yousif Capital Management LLC now owns 4,943 shares of the business services provider’s stock valued at $331,000 after acquiring an additional 1,455 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of RB Global by 4.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 5,386 shares of the business services provider’s stock worth $360,000 after purchasing an additional 250 shares in the last quarter. Amalgamated Bank increased its stake in RB Global by 5.2% during the 4th quarter. Amalgamated Bank now owns 24,374 shares of the business services provider’s stock valued at $1,630,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of RB Global in the fourth quarter valued at $317,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the transaction, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction dated 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 of the company’s stock, valued at approximately $1,837,162.32. The disclosure for this sale can be found here. Insiders have sold a total of 20,472 shares of company stock valued at $1,669,216 in the last 90 days. Corporate insiders own 4.32% of the company’s stock.

RB Global Stock Performance

Shares of NYSE:RBA traded up $0.90 during trading on Monday, hitting $86.13. 595,500 shares of the company were exchanged, compared to its average volume of 1,082,942. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. RB Global, Inc. has a 52-week low of $58.85 and a 52-week high of $87.45. The company has a market cap of $15.75 billion, a PE ratio of 51.89, a P/E/G ratio of 5.50 and a beta of 0.91. The stock has a 50 day moving average of $79.73 and a 200 day moving average of $76.52.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. RB Global’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share. As a group, equities research analysts predict that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.35%. This is a boost from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, August 28th. RB Global’s payout ratio is presently 69.88%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RBA shares. Bank of America upped their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Robert W. Baird increased their target price on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Royal Bank of Canada increased their price objective on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. CIBC started coverage on shares of RB Global in a research note on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price on the stock. Finally, Raymond James boosted their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.36.

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.