Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in RB Global, Inc. (NYSE:RBA)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,537 shares of the business services provider’s stock after selling 2,967 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RB Global were worth $6,376,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its position in shares of RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after acquiring an additional 117 shares during the period. MV Capital Management Inc. increased its holdings in RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after purchasing an additional 278 shares during the period. IFP Advisors Inc raised its position in RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 279 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of RB Global by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock valued at $106,000 after buying an additional 104 shares during the period. Finally, Allworth Financial LP grew its position in shares of RB Global by 1,870.9% during the first quarter. Allworth Financial LP now owns 1,084 shares of the business services provider’s stock worth $107,000 after buying an additional 1,029 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of recent research reports. CIBC upped their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Raymond James Financial increased their price objective on shares of RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. National Bankshares decreased their price objective on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Royal Bank Of Canada set a $125.00 target price on shares of RB Global and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Finally, National Bank Financial cut RB Global from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 25th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.21.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $5,022,380.00. Following the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $11,832,590. The trade was a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the sale, the insider owned 24,874 shares of the company’s stock, valued at $2,736,140. This trade represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,133 shares of company stock worth $7,843,729. Corporate insiders own 4.32% of the company’s stock.

RB Global Price Performance

Shares of RBA opened at $108.60 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. RB Global, Inc. has a 1-year low of $70.38 and a 1-year high of $111.71. The stock has a market cap of $20.15 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77. The firm has a fifty day moving average price of $106.56 and a 200 day moving average price of $100.56.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. RB Global’s dividend payout ratio (DPR) is presently 57.14%.

RB Global 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.