Park Place Capital Corp Reduces Stock Position in RB Global, Inc. (NYSE:RBA)

Park Place Capital Corp lowered its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,291 shares of the business services provider’s stock after selling 134 shares during the quarter. Park Place Capital Corp’s holdings in RB Global were worth $99,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of RB Global in the 4th quarter worth $900,000. Cerity Partners LLC purchased a new stake in shares of RB Global in the 4th quarter worth $201,000. Bray Capital Advisors purchased a new stake in shares of RB Global in the 4th quarter worth $984,000. Triasima Portfolio Management inc. lifted its holdings in shares of RB Global by 1,152.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock worth $12,947,000 after buying an additional 177,698 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of RB Global by 487.6% in the 4th quarter. Vontobel Holding Ltd. now owns 158,329 shares of the business services provider’s stock worth $10,591,000 after buying an additional 131,383 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity

In other news, CEO James Francis Kessler sold 8,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO James Francis Kessler sold 8,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 14,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total value of $1,056,020.00. Following the completion of the transaction, the executive now directly owns 28,267 shares in the company, valued at $2,132,179.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,867 shares of company stock valued at $3,370,272. Company insiders own 4.32% of the company’s stock.

RB Global Stock Down 1.7 %

NYSE:RBA traded down $1.32 during mid-day trading on Friday, hitting $74.77. 1,312,887 shares of the company’s stock traded hands, compared to its average volume of 850,655. The company has a fifty day moving average of $77.59 and a 200 day moving average of $74.14. RB Global, Inc. has a twelve month low of $55.67 and a twelve month high of $81.87. The company has a market capitalization of $13.67 billion, a P/E ratio of 45.04, a P/E/G ratio of 5.20 and a beta of 0.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, analysts forecast that RB Global, Inc. will post 2.04 EPS for the current year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, May 29th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.44%. The ex-dividend date was Wednesday, May 29th. RB Global’s dividend payout ratio is currently 65.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RBA shares. Bank of America upped their target price on RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. CIBC started coverage on RB Global in a research report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price target for the company. Finally, Scotiabank boosted their price target on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.50.

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.