Moore Capital Management LP Trims Position in RB Global, Inc. $RBA

Moore Capital Management LP trimmed its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 42.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,802 shares of the business services provider’s stock after selling 101,855 shares during the period. Moore Capital Management LP owned 0.07% of RB Global worth $14,716,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RBA. Laird Norton Wetherby Wealth Management LLC purchased a new stake in RB Global in the 3rd quarter worth $221,000. Kensico Capital Management Corp lifted its position in shares of RB Global by 152.0% in the third quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock valued at $113,128,000 after acquiring an additional 629,700 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of RB Global in the third quarter valued at about $53,111,000. Gotham Asset Management LLC boosted its stake in shares of RB Global by 26.7% in the third quarter. Gotham Asset Management LLC now owns 274,963 shares of the business services provider’s stock worth $29,795,000 after acquiring an additional 57,952 shares during the period. Finally, Eventide Asset Management LLC boosted its stake in shares of RB Global by 0.4% in the third quarter. Eventide Asset Management LLC now owns 526,319 shares of the business services provider’s stock worth $57,026,000 after acquiring an additional 2,187 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.28% of the company’s stock.

RB Global Trading Up 0.3%

Shares of RBA stock opened at $99.02 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $18.41 billion, a price-to-earnings ratio of 48.54, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57. RB Global, Inc. has a 12-month low of $87.87 and a 12-month high of $119.58. The stock’s 50-day moving average price is $108.22 and its 200-day moving average price is $106.06.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, February 9th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, February 9th. RB Global’s dividend payout ratio is currently 60.78%.

Wall Street Analyst Weigh In

RBA has been the subject of several research analyst reports. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Royal Bank Of Canada upped their price target on RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. BMO Capital Markets increased their price objective on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Raymond James Financial lifted their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Finally, National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price on the stock in a report on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $129.29.

About RB Global

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.