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

Deutsche Bank AG acquired a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 375,047 shares of the business services provider’s stock, valued at approximately $43,674,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RBA. MV Capital Management Inc. purchased a new stake in shares of RB Global during the 4th quarter valued at about $29,000. J.Safra Asset Management Corp purchased a new position in shares of RB Global during the second quarter valued at approximately $32,000. Bayban bought a new position in RB Global during the fourth quarter valued at approximately $34,000. Cassaday & Co Wealth Management LLC purchased a new stake in RB Global in the first quarter worth approximately $43,000. Finally, State of Wyoming purchased a new stake in RB Global in the second quarter worth approximately $46,000. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RBA has been the topic of several research analyst reports. BMO Capital Markets reissued 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. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Weiss Ratings cut RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Barclays reduced their price target on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Stephens reiterated an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. 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. According to data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average target price of $128.00.

RB Global Trading Down 0.5%

Shares of RB Global stock opened at $86.97 on Friday. The company has a market capitalization of $16.10 billion, a P/E ratio of 37.33, a P/E/G ratio of 1.49 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The company has a fifty day moving average of $105.76 and a 200 day moving average of $104.24. RB Global, Inc. has a fifty-two week low of $82.03 and a fifty-two week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results 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 return on equity of 12.37% and a net margin of 9.99%.The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 1.5%. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s payout ratio is presently 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.