SG Americas Securities LLC Makes New $2.28 Million Investment in RB Global, Inc. $RBA

SG Americas Securities LLC purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,757 shares of the business services provider’s stock, valued at approximately $2,277,000.

Several other large investors also recently made changes to their positions in the stock. MV Capital Management Inc. acquired a new stake in shares of RB Global during the fourth quarter worth $29,000. Bayban acquired a new position in RB Global in the 4th quarter worth $34,000. Central Pacific Bank Trust Division boosted its stake in RB Global by 41.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after purchasing an additional 107 shares during the period. State of Wyoming bought a new position in RB Global during the 2nd quarter worth about $46,000. Finally, Nemes Rush Group LLC bought a new position in RB Global during the 4th quarter worth about $54,000. Institutional investors own 95.37% of the company’s stock.

Insider Activity at RB Global

In other news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the purchase, the director owned 1,825 shares of the company’s stock, valued at $188,248.75. This represents a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank Of Canada boosted their price target on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. BMO Capital Markets reiterated an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Barclays assumed coverage on RB Global in a research note on Thursday, May 28th. They issued an “overweight” rating and a $124.00 target price on the stock. Finally, Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, RB Global presently has a consensus rating of “Buy” and an average target price of $126.12.

RB Global Trading Down 2.8%

RB Global stock opened at $113.16 on Thursday. The company has a market cap of $21.04 billion, a price-to-earnings ratio of 52.63, a P/E/G ratio of 1.82 and a beta of 0.55. The firm has a 50-day moving average of $106.51 and a 200-day moving average of $105.55. 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 one year low of $93.58 and a one year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. RB Global’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that RB Global, Inc. will post 4.17 earnings per share for the current fiscal year.

RB Global Announces Dividend

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

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.