Tectonic Advisors LLC Has $3.64 Million Stake in RB Global, Inc. $RBA

Tectonic Advisors LLC reduced its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 33.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,581 shares of the business services provider’s stock after selling 16,716 shares during the quarter. Tectonic Advisors LLC’s holdings in RB Global were worth $3,639,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cidel Asset Management Inc. increased its stake in shares of RB Global by 1.8% in the second quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock worth $73,115,000 after acquiring an additional 11,881 shares during the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in RB Global during the second quarter valued at $19,717,000. Voya Investment Management LLC grew its stake in RB Global by 12.8% in the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock valued at $3,389,000 after purchasing an additional 3,847 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its position in RB Global by 4.7% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 74,316 shares of the business services provider’s stock worth $7,892,000 after purchasing an additional 3,361 shares during the last quarter. Finally, Kathmere Capital Management LLC purchased a new stake in shares of RB Global during the 2nd quarter worth about $476,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RB Global

In other RB Global news, Director Deborah Stein acquired 1,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the purchase, the director owned 1,000 shares of the company’s stock, valued at approximately $101,260. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RBA. Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Royal Bank Of Canada lifted their target price on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Bank of America decreased their target price on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. National Bankshares cut their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Finally, Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.88.

RB Global Stock Down 1.7%

Shares of RB Global stock opened at $102.93 on Friday. RB Global, Inc. has a 12-month low of $86.68 and a 12-month high of $119.58. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $100.81 and a two-hundred day moving average price of $106.68. The stock has a market capitalization of $19.13 billion, a P/E ratio of 49.25, a PEG ratio of 2.24 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $0.71 earnings per share. RB Global’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 26th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, November 26th. RB Global’s dividend payout ratio (DPR) is currently 59.33%.

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.