Yousif Capital Management LLC Decreases Stake in RB Global, Inc. (NYSE:RBA)

Yousif Capital Management LLC reduced its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.7% during the first quarter, HoldingsChannel reports. The firm owned 64,311 shares of the business services provider’s stock after selling 3,884 shares during the period. Yousif Capital Management LLC’s holdings in RB Global were worth $6,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Stephens Inc. AR raised its position in RB Global by 26.6% in the 4th quarter. Stephens Inc. AR now owns 4,097 shares of the business services provider’s stock worth $370,000 after buying an additional 860 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of RB Global by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after acquiring an additional 137 shares during the period. Values First Advisors Inc. purchased a new position in shares of RB Global during the fourth quarter valued at approximately $582,000. Fiera Capital Corp lifted its position in RB Global by 4.1% during the fourth quarter. Fiera Capital Corp now owns 3,216,507 shares of the business services provider’s stock valued at $290,000,000 after purchasing an additional 125,275 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after purchasing an additional 753,700 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

NYSE RBA opened at $107.50 on Thursday. The business’s fifty day moving average is $101.79 and its 200 day moving average is $97.41. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $109.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company has a market capitalization of $19.91 billion, a PE ratio of 53.48, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. Sell-side analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s dividend payout ratio is currently 57.14%.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 3,700 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $392,829.00. Following the transaction, the insider now directly owns 24,874 shares in the company, valued at $2,640,872.58. The trade was a 12.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,972 shares of company stock worth $4,345,510 over the last three months. 4.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RBA shares. CIBC boosted their target price on shares of RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Friday, May 9th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. BMO Capital Markets increased their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird raised their target price on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, National Bank Financial lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and an average price target of $114.50.

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.