Icon Wealth Advisors LLC Purchases Shares of 10,471 RB Global, Inc. (NYSE:RBA)

Icon Wealth Advisors LLC purchased a new stake in RB Global, Inc. (NYSE:RBAFree Report) (TSE:RBA) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,471 shares of the business services provider’s stock, valued at approximately $700,000.

Other large investors have also recently added to or reduced their stakes in the company. Mariner LLC raised its position in shares of RB Global by 3.6% in the third quarter. Mariner LLC now owns 27,567 shares of the business services provider’s stock valued at $1,723,000 after purchasing an additional 946 shares during the period. Triasima Portfolio Management inc. raised its position in shares of RB Global by 1,152.4% in the fourth quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock valued at $12,947,000 after purchasing an additional 177,698 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of RB Global by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,030,810 shares of the business services provider’s stock valued at $68,951,000 after purchasing an additional 24,684 shares during the period. TD Asset Management Inc raised its position in shares of RB Global by 3.9% in the fourth quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock valued at $40,567,000 after purchasing an additional 22,636 shares during the period. Finally, Vontobel Holding Ltd. increased its position in RB Global by 487.6% during the fourth quarter. Vontobel Holding Ltd. now owns 158,329 shares of the business services provider’s stock worth $10,591,000 after acquiring an additional 131,383 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

RBA stock traded up $0.13 during mid-day trading on Tuesday, hitting $79.25. The stock had a trading volume of 375,552 shares, compared to its average volume of 837,216. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.58. RB Global, Inc. has a 52 week low of $55.09 and a 52 week high of $80.67. The firm has a market capitalization of $14.50 billion, a P/E ratio of 47.66, a P/E/G ratio of 4.97 and a beta of 0.88. The firm has a fifty day simple moving average of $73.95 and a 200 day simple moving average of $70.35.

RB Global (NYSE:RBAGet Free Report) (TSE:RBA) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. RB Global had a net margin of 8.08% and a return on equity of 6.87%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, research analysts forecast that RB Global, Inc. will post 2.04 EPS for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.36%. RB Global’s payout ratio is currently 65.06%.

Insider Activity

In other news, CRO James J. Jeter sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total value of $1,056,020.00. Following the sale, the executive now directly owns 28,267 shares in the company, valued at approximately $2,132,179.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CRO James J. Jeter sold 14,000 shares of RB Global stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the sale, the executive now directly owns 28,267 shares in the company, valued at approximately $2,132,179.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Baron Concors sold 13,230 shares of RB Global stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the sale, the insider now owns 15,487 shares in the company, valued at $1,162,299.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,230 shares of company stock worth $2,429,632. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of recent research reports. Raymond James raised their price target on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Bank of America raised their price target on shares of RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Royal Bank of Canada raised their price target on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Finally, Scotiabank raised their price target on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.33.

Check Out Our Latest Stock Analysis on RB Global

RB Global Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RB Global (NYSE:RBA)

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