10,754 Shares in RB Global, Inc. $RBA Purchased by Invst LLC

Invst LLC purchased a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 2nd quarter, Holdings Channel reports. The fund purchased 10,754 shares of the business services provider’s stock, valued at approximately $1,252,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of RB Global during the 2nd quarter worth approximately $1,816,059,000. EdgePoint Investment Group Inc. raised its stake in shares of RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after purchasing an additional 1,111,217 shares in the last quarter. State Street Corp boosted its holdings in shares of RB Global by 1.7% in the 4th quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock valued at $647,118,000 after buying an additional 104,286 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of RB Global by 13.1% in the 1st quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock valued at $483,432,000 after buying an additional 585,617 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of RB Global by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock valued at $513,930,000 after buying an additional 250,887 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RBA shares. BMO Capital Markets restated an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Zacks Research cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Royal Bank Of Canada lifted their price objective on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Stephens restated an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. Finally, Barclays dropped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

RB Global Stock Up 1.2%

RBA opened at $85.12 on Wednesday. RB Global, Inc. has a 1-year low of $82.03 and a 1-year high of $119.58. The stock’s fifty day simple moving average is $104.72 and its 200 day simple moving average is $103.74. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The stock has a market cap of $15.76 billion, a PE ratio of 36.53, a price-to-earnings-growth ratio of 1.44 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, research analysts expect that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio is 53.22%.

Insiders Place Their Bets

In related news, Director Chloe Harford acquired 1,200 shares of the business’s stock in a transaction on Monday, August 24th. The stock was purchased at an average cost of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the transaction, the director directly owned 1,200 shares of the company’s stock, valued at approximately $100,488. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is currently 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.