Modern Wealth Management LLC Acquires New Position in RB Global, Inc. (NYSE:RBA)

Modern Wealth Management LLC bought a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,764 shares of the business services provider’s stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc lifted its position in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after buying an additional 129 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in RB Global during the 4th quarter valued at $37,000. Finally, Geneos Wealth Management Inc. bought a new stake in RB Global in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 600 shares of RB Global stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the sale, the executive now directly owns 19,667 shares of the company’s stock, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James increased their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird increased their price objective on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. BMO Capital Markets boosted their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price target on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Price Performance

RBA stock opened at $97.90 on Friday. 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 firm has a 50 day moving average price of $96.38 and a 200-day moving average price of $91.38. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 48.70, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. Equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is 57.71%.

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.