Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in RB Global, Inc. (NYSE:RBA)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,537 shares of the business services provider’s stock after selling 2,967 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RB Global were worth $6,376,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Securian Asset Management Inc. grew its holdings in RB Global by 0.7% during the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider’s stock worth $1,408,000 after acquiring an additional 100 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of RB Global by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock worth $106,000 after purchasing an additional 104 shares in the last quarter. Wealth Alliance LLC grew its stake in shares of RB Global by 2.7% during the 1st quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider’s stock worth $399,000 after purchasing an additional 104 shares during the period. CoreCap Advisors LLC increased its holdings in shares of RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. Finally, Fullcircle Wealth LLC lifted its stake in shares of RB Global by 5.5% in the first quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider’s stock valued at $235,000 after purchasing an additional 124 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. National Bank Financial cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 25th. Royal Bank Of Canada set a $125.00 price objective on RB Global and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. CIBC boosted their target price on RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research report on Friday, July 18th. Robert W. Baird raised their price target on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, Raymond James Financial lifted their price target on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.21.

Insider Transactions at RB Global

In other news, CRO James J. Jeter sold 2,000 shares of RB Global stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the sale, the executive owned 14,167 shares of the company’s stock, valued at $1,515,302.32. The trade was a 12.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew John Fesler sold 9,075 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total value of $950,334.00. Following the completion of the transaction, the insider owned 5,532 shares of the company’s stock, valued at $579,311.04. The trade was a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,133 shares of company stock worth $7,843,729 in the last three months. 4.32% of the stock is currently owned by company insiders.

RB Global Stock Up 0.1%

RBA opened at $108.60 on Thursday. The firm has a market cap of $20.15 billion, a P/E ratio of 53.50, a PEG ratio of 2.50 and a beta of 0.77. The business’s fifty day simple moving average is $106.56 and its 200 day simple moving average is $100.56. RB Global, Inc. has a 52 week low of $70.38 and a 52 week high of $111.71. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were given 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 1.07%. RB Global’s dividend payout ratio (DPR) is currently 57.14%.

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.