Healthcare of Ontario Pension Plan Trust Fund Acquires New Shares in RB Global, Inc. $RBA

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 25,900 shares of the business services provider’s stock, valued at approximately $2,483,000.

Several other institutional investors have also recently made changes to their positions in the stock. Personal CFO Solutions LLC boosted its holdings in shares of RB Global by 0.9% in the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock worth $1,073,000 after acquiring an additional 96 shares during the period. Covestor Ltd raised its stake in shares of RB Global by 11.6% during the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 97 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the period. Coldstream Capital Management Inc. lifted its holdings in RB Global by 5.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock worth $221,000 after purchasing an additional 105 shares in the last quarter. Finally, Sigma Planning Corp lifted its holdings in RB Global by 1.4% during the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock worth $866,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Down 0.2%

Shares of RBA opened at $109.75 on Friday. The firm’s 50 day simple moving average is $109.81 and its 200 day simple moving average is $106.58. The company has a market capitalization of $20.32 billion, a P/E ratio of 51.05, a P/E/G ratio of 2.25 and a beta of 0.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $888.01 million during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $0.89 earnings per share. RB Global’s revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts forecast that RB Global, Inc. will post 4.16 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s payout ratio is presently 57.67%.

Insider Transactions at RB Global

In related news, Director Deborah Stein bought 425 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

RBA has been the subject of a number of recent analyst reports. National Bank Financial lifted their target price on RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Barclays lowered their price target on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, June 30th. Zacks Research raised shares of RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Finally, Stephens reiterated an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $127.57.

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.