Klein Pavlis & Peasley Financial Inc. Grows Position in RB Global, Inc. (NYSE:RBA)

Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,696 shares of the business services provider’s stock after purchasing an additional 872 shares during the period. RB Global comprises approximately 2.9% of Klein Pavlis & Peasley Financial Inc.’s investment portfolio, making the stock its 7th largest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in RB Global were worth $3,598,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of RB Global during the 1st quarter worth $33,000. Massmutual Trust Co. FSB ADV raised its stake in RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 165 shares during the period. UMB Bank n.a. raised its stake in RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 388 shares during the period. Quarry LP bought a new stake in RB Global in the 2nd quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC raised its stake in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of research reports. BMO Capital Markets initiated coverage on RB Global in a research note on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective on the stock. Raymond James boosted their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird lifted their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Bank of America lifted their target price on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global Stock Up 0.4 %

Shares of NYSE RBA opened at $84.94 on Monday. RB Global, Inc. has a 12 month low of $58.85 and a 12 month high of $87.45. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 51.17, a PEG ratio of 5.62 and a beta of 0.93. The business has a 50-day moving average of $83.25 and a 200-day moving average of $78.78.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. RB Global’s revenue was down .9% on a year-over-year basis. Sell-side analysts expect that RB Global, Inc. will post 1.92 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.29 per share. This is a positive change from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.37%. RB Global’s payout ratio is presently 69.88%.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,166,263.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of the company’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 value of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,601 shares of company stock valued at $3,720,043. 4.32% of the stock is owned by corporate insiders.

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.