Nykredit A S Makes New Investment in RB Global, Inc. $RBA

Nykredit A S purchased a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 63,889 shares of the business services provider’s stock, valued at approximately $7,435,000.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. bought a new stake in RB Global during the 2nd quarter worth approximately $1,816,059,000. Jupiter Topco LLC bought a new position in RB Global in the second quarter valued at approximately $514,871,000. T. Rowe Price Investment Management Inc. lifted its stake in RB Global by 6,120,490.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock valued at $251,851,000 after buying an additional 2,448,196 shares in the last quarter. Norges Bank acquired a new position in shares of RB Global in the fourth quarter valued at approximately $231,813,000. Finally, Lazard Asset Management LLC acquired a new position in shares of RB Global in the first quarter valued at approximately $210,091,000. Institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

RBA has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings lowered shares of RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, June 30th. Finally, Zacks Research lowered RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. One 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.00.

Insider Buying and Selling at RB Global

In related news, Director Chloe Harford bought 1,200 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average price of $83.74 per share, with a total value of $100,488.00. Following the completion of the transaction, the director owned 1,200 shares in the company, valued at $100,488. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.

RB Global Price Performance

NYSE RBA opened at $83.55 on Friday. The firm’s 50 day moving average is $100.43 and its 200-day moving average is $102.23. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $15.47 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. RB Global, Inc. has a 12-month low of $81.50 and a 12-month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.09 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. Equities research analysts anticipate that RB Global, Inc. will post 4.06 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 $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio is 56.65%.

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.