Icon Wealth Advisors LLC Purchases New Holdings in RB Global, Inc. (NYSE:RBA)

Icon Wealth Advisors LLC purchased a new stake in RB Global, Inc. (NYSE:RBAFree Report) (TSE:RBA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,471 shares of the business services provider’s stock, valued at approximately $700,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Oakworth Capital Inc. increased its position in RB Global by 53.3% during the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after purchasing an additional 162 shares during the period. Signaturefd LLC increased its position in RB Global by 11.0% during the 4th quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock worth $128,000 after purchasing an additional 190 shares during the period. Claret Asset Management Corp boosted its stake in shares of RB Global by 1.7% during the 3rd quarter. Claret Asset Management Corp now owns 14,217 shares of the business services provider’s stock worth $889,000 after acquiring an additional 238 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of RB Global by 4.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 5,386 shares of the business services provider’s stock worth $360,000 after acquiring an additional 250 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of RB Global by 0.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 103,115 shares of the business services provider’s stock worth $6,445,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Trading Up 0.2 %

Shares of RB Global stock traded up $0.13 during trading hours on Tuesday, reaching $79.25. 375,552 shares of the company’s stock were exchanged, compared to its average volume of 837,216. 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 price-to-earnings ratio of 47.66, a price-to-earnings-growth ratio of 4.97 and a beta of 0.88. The company has a fifty day moving average of $73.95 and a 200-day moving average of $70.35. 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 (NYSE:RBAGet Free Report) (TSE:RBA) last released its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.15. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a return on equity of 6.87% and a net margin of 8.08%. Sell-side analysts forecast that RB Global, Inc. will post 2.04 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th will be issued a dividend of $0.27 per share. 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 65.06%.

Insider Transactions at RB Global

In other news, CRO James J. Jeter sold 14,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of 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 legal filing with the SEC, which is available at this link. In related news, CRO James J. Jeter sold 5,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $76.14, for a total value of $380,700.00. Following the completion of the sale, the executive now directly owns 23,267 shares in the company, valued at approximately $1,771,549.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 14,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive now directly owns 28,267 shares of the company’s stock, valued at $2,132,179.81. The disclosure for this sale can be found here. Insiders sold a total of 32,230 shares of company stock worth $2,429,632 in the last ninety days. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

RBA has been the topic of several research analyst reports. Raymond James boosted their price target on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Bank of America upped their target price on RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Royal Bank of Canada upped their target price on RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, Scotiabank increased their price target on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.33.

Get Our Latest Analysis on RBA

RB Global 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.

Further Reading

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

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