Oppenheimer Asset Management Inc. Sells 26,812 Shares of RB Global, Inc. (NYSE:RBA)

Oppenheimer Asset Management Inc. decreased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 11.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 207,763 shares of the business services provider’s stock after selling 26,812 shares during the period. Oppenheimer Asset Management Inc.’s holdings in RB Global were worth $20,839,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of RBA. CoreCap Advisors LLC grew its stake 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 valued at $25,000 after buying an additional 117 shares during the last quarter. MV Capital Management Inc. grew its stake in shares of RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock valued at $28,000 after buying an additional 278 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of RB Global by 49.4% during the fourth 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. Proficio Capital Partners LLC bought a new position in shares of RB Global during the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC bought a new position in shares of RB Global during the fourth quarter valued at approximately $37,000. Institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In other news, insider Andrew John Fesler sold 9,075 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the sale, the insider now owns 5,532 shares in the company, valued at approximately $579,311.04. This represents a 62.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Adam Dewitt sold 800 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the sale, the director now owns 5,865 shares of the company’s stock, valued at approximately $622,687.05. This represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,075 shares of company stock worth $2,007,349 over the last 90 days. Company insiders own 0.28% of the company’s stock.

RB Global Stock Up 0.2%

RB Global stock opened at $104.77 on Monday. The business has a fifty day moving average of $103.51 and a two-hundred day moving average of $97.79. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm has a market cap of $19.40 billion, a P/E ratio of 51.61 and a beta of 0.78. RB Global, Inc. has a twelve month low of $70.38 and a twelve month high of $109.25.

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, hitting analysts’ consensus estimates of $0.89. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. RB Global’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued 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 yield of 1.11%. RB Global’s dividend payout ratio is currently 57.14%.

Analyst Ratings Changes

Several brokerages recently issued reports on RBA. Robert W. Baird increased their price objective on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen raised RB Global from a “hold” rating to a “buy” rating in a research note on Saturday. Raymond James Financial increased their price objective on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. CIBC increased their price objective on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th. Finally, National Bankshares dropped their price objective on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.50.

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.