MidFirst Bank Takes $6.83 Million Position in RB Global, Inc. $RBA

MidFirst Bank purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 66,433 shares of the business services provider’s stock, valued at approximately $6,834,000.

Other large investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in RB Global by 6,120,490.0% in the 4th 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 acquiring an additional 2,448,196 shares in the last quarter. Norges Bank acquired a new position in shares of RB Global in the 4th quarter valued at approximately $231,813,000. EdgePoint Investment Group Inc. boosted its position in shares of RB Global by 11.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock worth $792,934,000 after acquiring an additional 821,319 shares in the last quarter. Kensico Capital Management Corp increased its stake in RB Global by 152.0% in the third quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock valued at $113,128,000 after acquiring an additional 629,700 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in RB Global by 16.4% in the fourth quarter. Janus Henderson Group PLC now owns 4,085,897 shares of the business services provider’s stock valued at $420,417,000 after acquiring an additional 576,347 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

RBA has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a report on Tuesday, May 26th. Stephens reaffirmed an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. Barclays initiated coverage on RB Global in a research note on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price for the company. Royal Bank Of Canada raised their price target on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, RB Global currently has an average rating of “Moderate Buy” and a consensus target price of $126.12.

RB Global Trading Up 3.0%

Shares of RBA stock opened at $110.54 on Friday. RB Global, Inc. has a twelve month low of $93.58 and a twelve month high of $119.58. The stock’s fifty day simple moving average is $104.73 and its 200 day simple moving average is $104.73. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $20.55 billion, a P/E ratio of 51.41, a P/E/G ratio of 1.71 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 earnings per share. As a group, sell-side analysts predict that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s payout ratio is 57.67%.

Insider Buying and Selling at RB Global

In related news, Director Deborah Stein bought 425 shares of RB Global stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the acquisition, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.57% of the company’s stock.

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.