971,186 Shares in RB Global, Inc. $RBA Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 971,186 shares of the business services provider’s stock, valued at approximately $113,034,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addison Advisors LLC acquired a new position in shares of RB Global in the 2nd quarter valued at $26,000. MV Capital Management Inc. bought a new position in shares of RB Global in the 4th quarter worth $29,000. J.Safra Asset Management Corp acquired a new stake in shares of RB Global during the second quarter worth $32,000. Bayban acquired a new stake in shares of RB Global during the fourth quarter worth $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in RB Global in the first quarter valued at about $43,000. 95.37% of the stock is owned by institutional investors.

RB Global Price Performance

RBA opened at $85.90 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. RB Global, Inc. has a 12 month low of $82.03 and a 12 month high of $119.58. The company has a fifty day simple moving average of $103.79 and a 200 day simple moving average of $103.31. The stock has a market cap of $15.90 billion, a P/E ratio of 36.87, a P/E/G ratio of 1.46 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping 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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, research analysts expect that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This is an increase from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 25th. RB Global’s payout ratio is 56.65%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RBA. 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 research note on Tuesday, May 5th. Weiss Ratings lowered RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Stephens reaffirmed an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a research note on Tuesday, May 5th. Zacks Research downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, National Bank Financial lifted their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. One investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.00.

Insider Buying and Selling at RB Global

In other RB Global news, Director Chloe Harford acquired 1,200 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the acquisition, the director directly owned 1,200 shares of the company’s stock, valued at approximately $100,488. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by company insiders.

About RB Global

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.