Alpine Global Management LLC Makes New $789,000 Investment in RB Global, Inc. (NYSE:RBA)

Alpine Global Management LLC purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the fourth quarter, Holdings Channel.com reports. The firm purchased 8,745 shares of the business services provider’s stock, valued at approximately $789,000.

A number of other institutional investors have also bought and sold shares of RBA. UMB Bank n.a. increased its stake in RB Global by 60.1% in the 4th quarter. UMB Bank n.a. now owns 938 shares of the business services provider’s stock worth $85,000 after buying an additional 352 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after buying an additional 143 shares in the last quarter. SG Americas Securities LLC grew its position in shares of RB Global by 182.7% during the fourth quarter. SG Americas Securities LLC now owns 13,871 shares of the business services provider’s stock valued at $1,251,000 after purchasing an additional 8,964 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of RB Global by 4.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,895 shares of the business services provider’s stock valued at $2,516,000 after purchasing an additional 1,266 shares in the last quarter. Finally, Mutual Advisors LLC grew its position in shares of RB Global by 5.8% during the fourth quarter. Mutual Advisors LLC now owns 6,162 shares of the business services provider’s stock valued at $554,000 after purchasing an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 0.6%

Shares of NYSE:RBA opened at $108.59 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 12 month low of $70.27 and a 12 month high of $109.25. The company has a 50-day moving average price of $99.91 and a 200 day moving average price of $96.13. The company has a market cap of $20.10 billion, a price-to-earnings ratio of 54.02, a PEG ratio of 4.95 and a beta of 0.78.

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

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s payout ratio is 57.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RBA. Royal Bank of Canada raised their price objective on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James raised their price objective on RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. CIBC raised their price objective on RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Friday, May 9th. National Bankshares cut their price objective on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen upgraded RB Global from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.50.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This trade represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO James J. Jeter sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $106.96, for a total transaction of $213,920.00. Following the completion of the sale, the executive now directly owns 14,167 shares of the company’s stock, valued at approximately $1,515,302.32. The trade was a 12.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,472 shares of company stock valued at $3,867,745. Insiders own 4.32% of the company’s stock.

About RB Global

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.