Federation des caisses Desjardins du Quebec Raises Stock Position in RB Global, Inc. $RBA

Federation des caisses Desjardins du Quebec grew its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 615,368 shares of the business services provider’s stock after purchasing an additional 22,372 shares during the period. Federation des caisses Desjardins du Quebec’s holdings in RB Global were worth $61,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC increased its stake in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after purchasing an additional 117 shares during the period. SouthState Corp purchased a new stake in RB Global during the first quarter worth about $26,000. MV Capital Management Inc. increased its stake in RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after purchasing an additional 278 shares during the period. SVB Wealth LLC purchased a new stake in RB Global during the first quarter worth about $28,000. Finally, IFP Advisors Inc increased its stake in shares of RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after buying an additional 279 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Performance

Shares of RBA opened at $114.57 on Tuesday. The company has a market capitalization of $21.26 billion, a price-to-earnings ratio of 56.72, a price-to-earnings-growth ratio of 2.66 and a beta of 0.65. RB Global, Inc. has a 52-week low of $78.08 and a 52-week high of $118.23. The stock has a 50 day moving average price of $110.39 and a 200 day moving average price of $104.46. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share. Research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global’s dividend payout ratio is currently 61.39%.

Insider Activity

In other news, CEO James Francis Kessler sold 45,658 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $11,832,590. This represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adam Dewitt sold 800 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the sale, the director directly owned 5,865 shares of the company’s stock, valued at approximately $622,687.05. This represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,558 shares of company stock valued at $6,314,145. 0.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RBA shares. CIBC upped their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Raymond James Financial upped their target price on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. BMO Capital Markets upped their target price on shares of RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. National Bank Financial lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 25th. Finally, National Bankshares upped their target price on shares of RB Global from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $124.33.

RB Global Company Profile

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.