RB Global, Inc. $RBA Shares Purchased by Wilson Asset Management International PTY Ltd.

Wilson Asset Management International PTY Ltd. raised its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,402 shares of the business services provider’s stock after acquiring an additional 13,814 shares during the quarter. RB Global comprises approximately 4.2% of Wilson Asset Management International PTY Ltd.’s investment portfolio, making the stock its 9th biggest holding. Wilson Asset Management International PTY Ltd.’s holdings in RB Global were worth $16,927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its position in shares of RB Global by 122.2% during the 1st quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider’s stock worth $770,000 after buying an additional 4,222 shares during the period. GAMMA Investing LLC grew its position in shares of RB Global by 28.6% during the 1st quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider’s stock worth $161,000 after buying an additional 358 shares during the period. Voya Investment Management LLC grew its position in shares of RB Global by 12.8% during the 1st quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock worth $3,389,000 after buying an additional 3,847 shares during the period. Nisa Investment Advisors LLC grew its position in shares of RB Global by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock worth $106,000 after buying an additional 104 shares during the period. Finally, Kathmere Capital Management LLC acquired a new stake in shares of RB Global during the 2nd quarter worth approximately $476,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RBA opened at $105.01 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. RB Global, Inc. has a twelve month low of $78.55 and a twelve month high of $119.58. The firm’s 50 day moving average price is $113.13 and its two-hundred day moving average price is $107.03. The firm has a market cap of $19.50 billion, a P/E ratio of 51.99, a PEG ratio of 2.42 and a beta of 0.65.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were given a $0.31 dividend. This is a boost from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 28th. RB Global’s payout ratio is presently 61.39%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBA. National Bankshares reduced their price objective on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. BMO Capital Markets lifted their price objective on shares of RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. CIBC lifted their price objective on shares of RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Raymond James Financial lifted their price objective on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their price objective on shares of RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

Insider Activity at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.28% of the stock is currently owned by corporate insiders.

RB Global Company 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.