Armstrong Henry H Associates Inc. Purchases 12,317 Shares of RB Global, Inc. $RBA

Armstrong Henry H Associates Inc. lifted its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 30.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,226 shares of the business services provider’s stock after buying an additional 12,317 shares during the quarter. RB Global comprises approximately 0.4% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 16th largest holding. Armstrong Henry H Associates Inc.’s holdings in RB Global were worth $4,332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RBA. Public Employees Retirement System of Ohio raised its holdings in shares of RB Global by 9.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock worth $19,873,000 after acquiring an additional 17,489 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in RB Global by 127.3% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider’s stock valued at $3,068,000 after acquiring an additional 14,755 shares during the period. Bank of America Corp DE raised its holdings in RB Global by 7.8% during the 1st quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock valued at $139,216,000 after acquiring an additional 104,560 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of RB Global in the second quarter worth about $17,590,000. Finally, Moore Capital Management LP increased its holdings in shares of RB Global by 125.0% in the fourth quarter. Moore Capital Management LP now owns 305,557 shares of the business services provider’s stock worth $31,433,000 after purchasing an additional 169,755 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Chloe Harford purchased 1,200 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $83.74 per share, with a total value of $100,488.00. Following the transaction, the director owned 1,200 shares of the company’s stock, valued at $100,488. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Deborah Stein purchased 500 shares of the stock in a transaction dated Wednesday, September 9th. The stock was acquired at an average cost of $80.91 per share, with a total value of $40,455.00. Following the transaction, the director directly owned 2,325 shares in the company, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RBA shares. Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Barclays reduced their target price on RB Global from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Finally, Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.

RB Global Price Performance

Shares of NYSE RBA traded down $0.51 during midday trading on Wednesday, reaching $80.54. 435,949 shares of the stock traded hands, compared to its average volume of 1,427,955. RB Global, Inc. has a one year low of $78.05 and a one year high of $119.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The company’s 50 day moving average is $87.46 and its 200 day moving average is $99.30. The stock has a market capitalization of $14.60 billion, a PE ratio of 34.54, a P/E/G ratio of 1.41 and a beta of 0.53.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. On average, equities research analysts anticipate that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th were issued a $0.33 dividend. The ex-dividend date was Tuesday, August 25th. This is a boost from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. RB Global’s dividend payout ratio (DPR) is currently 56.65%.

RB Global Company Profile

RB Global, Inc (NYSE: RBA) is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.