MidFirst Bank Acquires New Shares in RB Global, Inc. $RBA

MidFirst Bank acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, HoldingsChannel.com reports. The firm acquired 68,523 shares of the business services provider’s stock, valued at approximately $7,980,000.

Several other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in shares of RB Global by 94.3% during the first quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after acquiring an additional 5,090 shares during the last quarter. NewEdge Advisors LLC boosted its stake in RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 204 shares during the period. Jones Financial Companies Lllp boosted its stake in RB Global by 857.9% during the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after purchasing an additional 3,346 shares during the period. Goldman Sachs Group Inc. grew its position in RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after purchasing an additional 88,813 shares during the last quarter. Finally, Woodline Partners LP bought a new position in RB Global in the 1st quarter worth about $4,103,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on RBA. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Stephens reissued an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a report on Tuesday, May 5th. Barclays lowered their target price on RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Royal Bank Of Canada lifted their target price on RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, National Bank Financial boosted their price target on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

RB Global Stock Down 2.5%

RBA stock opened at $82.12 on Tuesday. RB Global, Inc. has a 52 week low of $82.03 and a 52 week high of $119.58. The company has a market capitalization of $15.20 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 1.44 and a beta of 0.56. The firm’s 50-day moving average is $107.35 and its two-hundred day moving average is $104.96. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data 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 net margin of 9.99% and a return on equity of 12.37%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, analysts forecast that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

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

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.