Vontobel Holding Ltd. Decreases Holdings in RB Global, Inc. $RBA

Vontobel Holding Ltd. trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 36.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,579,216 shares of the business services provider’s stock after selling 2,636,198 shares during the period. RB Global accounts for about 1.5% of Vontobel Holding Ltd.’s holdings, making the stock its 15th largest holding. Vontobel Holding Ltd.’s holdings in RB Global were worth $471,064,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RBA. AQR Capital Management LLC lifted its holdings in RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after buying an additional 5,090 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after buying an additional 204 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in RB Global by 857.9% during the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after buying an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in RB Global by 35.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after buying an additional 88,813 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in RB Global during the 1st quarter worth about $4,103,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Up 1.5%

RB Global stock opened at $107.74 on Friday. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The company has a market capitalization of $20.03 billion, a P/E ratio of 50.11, a PEG ratio of 1.69 and a beta of 0.57. The stock has a 50-day simple moving average of $103.79 and a 200-day simple moving average of $104.33.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS. Equities research analysts expect that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global’s dividend payout ratio is currently 57.67%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RBA shares. Stephens reaffirmed an “equal weight” rating and set a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Royal Bank Of Canada boosted their target price on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Barclays started coverage on RB Global in a report on Thursday, May 28th. They issued an “overweight” rating and a $124.00 target price for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a report on Tuesday, May 26th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.13.

Insider Buying and Selling

In related news, Director Deborah Stein acquired 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $103.15 per share, with a total value of $43,838.75. Following the purchase, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

RB Global 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.