New Age Alpha Advisors LLC Invests $3.64 Million in RB Global, Inc. (NYSE:RBA)

New Age Alpha Advisors LLC bought a new position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 40,331 shares of the business services provider's stock, valued at approximately $3,638,000.

A number of other hedge funds have also recently bought and sold shares of RBA. Central Pacific Bank Trust Division bought a new position in RB Global in the 4th quarter worth about $27,000. Versant Capital Management Inc raised its holdings in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after purchasing an additional 176 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after purchasing an additional 129 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of RB Global in the 4th quarter worth about $36,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of RB Global during the fourth quarter valued at approximately $37,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Trading Up 0.6 %

Shares of NYSE RBA traded up $0.58 during midday trading on Wednesday, reaching $100.95. 255,138 shares of the stock were exchanged, compared to its average volume of 1,090,778. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The stock has a market capitalization of $18.65 billion, a P/E ratio of 50.22, a PEG ratio of 4.95 and a beta of 0.94. The company has a 50 day simple moving average of $96.80 and a 200 day simple moving average of $91.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period last year, the company earned $0.82 EPS. As a group, equities analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, February 14th. RB Global's dividend payout ratio is presently 57.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RBA shares. Raymond James lifted their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Royal Bank of Canada boosted their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Robert W. Baird lifted their target price on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. CIBC lowered their price target on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $107.64.

Insider Activity

In other news, CRO James J. Jeter sold 7,597 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the transaction, the executive now owns 20,267 shares of the company's stock, valued at approximately $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,897 shares of company stock valued at $2,338,161. Company insiders own 4.32% of the company's stock.

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.