Arkfeld Wealth Strategies L.L.C. Purchases 9,593 Shares of RB Global, Inc. $RBA

Arkfeld Wealth Strategies L.L.C. acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,593 shares of the business services provider’s stock, valued at approximately $771,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RBA. Assenagon Asset Management S.A. grew its stake in RB Global by 5.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 7,310 shares of the business services provider’s stock worth $598,000 after purchasing an additional 349 shares in the last quarter. Ninety One UK Ltd acquired a new stake in RB Global in the 3rd quarter valued at about $238,000. Avior Wealth Management LLC boosted its stake in shares of RB Global by 15.8% in the 3rd quarter. Avior Wealth Management LLC now owns 13,172 shares of the business services provider’s stock valued at $1,072,000 after buying an additional 1,799 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in shares of RB Global by 1.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 26,814 shares of the business services provider’s stock valued at $2,182,000 after buying an additional 471 shares during the period. Finally, Diversified Management Inc. grew its position in shares of RB Global by 13.4% during the third quarter. Diversified Management Inc. now owns 4,537 shares of the business services provider’s stock worth $369,000 after buying an additional 537 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Down 6.4%

RBA stock traded down $5.39 during midday trading on Monday, reaching $78.91. 1,624,781 shares of the company were exchanged, compared to its average volume of 1,463,077. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 1.44 and a beta of 0.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. RB Global, Inc. has a 1-year low of $78.05 and a 1-year high of $119.33. The stock’s 50-day simple moving average is $84.34 and its 200 day simple moving average is $98.72.

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

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. RB Global’s dividend payout ratio is 56.65%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RBA. Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. National Bank Financial lifted their price target on shares of RB Global from $130.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and set a $152.00 price target on shares of RB Global in a report on Wednesday, September 23rd. Barclays dropped their price objective on shares of RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Finally, Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.29.

Insider Activity

In other news, Director Deborah Stein acquired 500 shares of the firm’s 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 completion of the acquisition, the director owned 2,325 shares of the company’s stock, valued at $188,115.75. The trade was a 27.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chloe Harford bought 1,200 shares of the stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the transaction, the director owned 1,200 shares of the company’s stock, valued at approximately $100,488. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

RB Global Profile

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.