Virtu Financial LLC Increases Stake in RB Global, Inc. (NYSE:RBA)

Virtu Financial LLC raised its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 767.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,802 shares of the business services provider’s stock after acquiring an additional 23,714 shares during the quarter. Virtu Financial LLC’s holdings in RB Global were worth $2,047,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brevan Howard Capital Management LP acquired a new position in shares of RB Global in the 4th quarter valued at $2,009,000. Intech Investment Management LLC acquired a new position in shares of RB Global in the first quarter worth about $613,000. Price T Rowe Associates Inc. MD boosted its stake in shares of RB Global by 25.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after acquiring an additional 74,809 shares in the last quarter. TD Asset Management Inc grew its position in shares of RB Global by 3.9% during the 4th quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock valued at $40,567,000 after acquiring an additional 22,636 shares during the period. Finally, MJP Associates Inc. ADV increased its stake in shares of RB Global by 10.7% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock valued at $318,000 after purchasing an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the transaction, the executive now owns 23,267 shares in the company, valued at $1,837,162.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the sale, the executive now 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. Over the last 90 days, insiders sold 26,718 shares of company stock valued at $2,214,474. 4.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Raymond James increased their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird upped their target price on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America lifted their price target on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. CIBC initiated coverage on shares of RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on shares of RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global Trading Down 0.9 %

Shares of RBA opened at $84.36 on Wednesday. RB Global, Inc. has a 52-week low of $58.85 and a 52-week high of $87.45. The stock has a market cap of $15.43 billion, a PE ratio of 50.82, a price-to-earnings-growth ratio of 5.42 and a beta of 0.93. The firm’s fifty day moving average is $81.34 and its two-hundred day moving average is $77.47. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $0.42 earnings per share. RB Global’s quarterly revenue was down .9% on a year-over-year basis. Research analysts forecast that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be given a $0.29 dividend. The ex-dividend date is Wednesday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.38%. RB Global’s dividend payout ratio is 69.88%.

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.