RB Global, Inc. $RBA Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,979 shares of the business services provider’s stock after selling 4,628 shares during the quarter. Peregrine Capital Management LLC’s holdings in RB Global were worth $7,219,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of RB Global by 3.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider’s stock valued at $1,027,191,000 after acquiring an additional 352,530 shares during the period. Fiera Capital Corp boosted its holdings in shares of RB Global by 17.3% in the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock valued at $379,150,000 after acquiring an additional 557,407 shares during the period. Invesco Ltd. boosted its holdings in shares of RB Global by 26.9% in the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider’s stock valued at $244,360,000 after acquiring an additional 516,865 shares during the period. Wellington Management Group LLP boosted its holdings in shares of RB Global by 1.1% in the first quarter. Wellington Management Group LLP now owns 1,854,476 shares of the business services provider’s stock valued at $186,098,000 after acquiring an additional 19,543 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of RB Global by 44.4% in the first quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider’s stock valued at $151,331,000 after acquiring an additional 463,844 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RBA shares. National Bankshares decreased their price objective on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Wall Street Zen upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Saturday. CIBC upped their price target on RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. BMO Capital Markets upped their price target on RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Raymond James Financial upped their price target on RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

RB Global Trading Down 0.2%

NYSE:RBA opened at $101.51 on Tuesday. The stock has a fifty day moving average price of $110.57 and a two-hundred day moving average price of $107.46. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of 50.25, a PEG ratio of 2.37 and a beta of 0.65. 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 1 year low of $84.31 and a 1 year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.RB Global’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were given a $0.31 dividend. The ex-dividend date was Thursday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global’s dividend payout ratio (DPR) is currently 61.39%.

Insider Transactions at RB Global

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.28% of the company’s stock.

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.