Gabelli Funds LLC Lowers Position in RB Global, Inc. (NYSE:RBA)

Gabelli Funds LLC cut its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,800 shares of the business services provider’s stock after selling 725 shares during the period. Gabelli Funds LLC’s holdings in RB Global were worth $1,965,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at RB Global

In related news, insider Baron Concors sold 13,230 shares of RB Global stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total value of $992,911.50. Following the completion of the transaction, the insider now owns 15,487 shares in the company, valued at $1,162,299.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Darren Jeffrey Watt sold 3,637 shares of RB Global stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $80.66, for a total value of $293,360.42. Following the completion of the transaction, the insider now owns 17,279 shares in the company, valued at $1,393,724.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Baron Concors sold 13,230 shares of RB Global stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total value of $992,911.50. Following the completion of the transaction, the insider now owns 15,487 shares of the company’s stock, valued at approximately $1,162,299.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,867 shares of company stock valued at $3,370,272. 4.32% of the stock is currently owned by insiders.

RB Global Price Performance

Shares of RBA stock traded up $0.60 during trading hours on Friday, hitting $79.17. The stock had a trading volume of 760,994 shares, compared to its average volume of 974,243. RB Global, Inc. has a one year low of $55.54 and a one year high of $81.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 1.17. The stock’s 50-day moving average price is $77.36 and its two-hundred day moving average price is $73.56. The stock has a market capitalization of $14.48 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 5.41 and a beta of 0.91.

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

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders 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 dividend yield of 1.36%. RB Global’s dividend payout ratio (DPR) is 65.06%.

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.