Skandinaviska Enskilda Banken AB publ Purchases 3,300 Shares of RB Global, Inc. $RBA

Skandinaviska Enskilda Banken AB publ raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,506 shares of the business services provider’s stock after purchasing an additional 3,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in RB Global were worth $3,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of RBA. Cetera Investment Advisers raised its position in RB Global by 4.5% in the 1st quarter. Cetera Investment Advisers now owns 41,819 shares of the business services provider’s stock valued at $4,195,000 after buying an additional 1,799 shares during the last quarter. LPL Financial LLC grew its stake in shares of RB Global by 0.4% during the 1st quarter. LPL Financial LLC now owns 70,586 shares of the business services provider’s stock worth $7,080,000 after acquiring an additional 261 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of RB Global by 4.4% during the 1st quarter. Federated Hermes Inc. now owns 19,100 shares of the business services provider’s stock worth $1,916,000 after acquiring an additional 802 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of RB Global in the first quarter valued at approximately $236,000. Finally, Natixis Advisors LLC lifted its position in shares of RB Global by 56.6% in the first quarter. Natixis Advisors LLC now owns 29,569 shares of the business services provider’s stock worth $2,966,000 after purchasing an additional 10,692 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RBA has been the subject of a number of analyst reports. Weiss Ratings downgraded shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. National Bankshares decreased their price objective on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price on the stock in a research report on Monday, November 24th. Royal Bank Of Canada increased their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.88.

RB Global Price Performance

NYSE:RBA opened at $98.13 on Tuesday. RB Global, Inc. has a 12-month low of $86.68 and a 12-month high of $119.58. The firm has a market capitalization of $18.22 billion, a price-to-earnings ratio of 48.58, a P/E/G ratio of 2.48 and a beta of 0.65. The stock’s 50 day moving average price is $101.92 and its two-hundred day moving average price is $107.26. 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 earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the firm earned $0.71 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 26th. RB Global’s payout ratio is currently 59.33%.

Insider Activity

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deborah Stein bought 1,000 shares of RB Global stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average cost of $101.26 per share, with a total value of $101,260.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $101,260. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 4.32% of the stock is owned by corporate insiders.

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.