Vontobel Holding Ltd. lowered its stake in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 36.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,579,216 shares of the business services provider’s stock after selling 2,636,198 shares during the quarter. RB Global accounts for 1.5% of Vontobel Holding Ltd.’s holdings, making the stock its 15th biggest holding. Vontobel Holding Ltd. owned approximately 2.46% of RB Global worth $471,064,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of RB Global by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock valued at $2,744,455,000 after purchasing an additional 124,926 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of RB Global by 1.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock valued at $1,120,479,000 after purchasing an additional 165,260 shares during the last quarter. Geode Capital Management LLC grew its position in RB Global by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock valued at $513,930,000 after acquiring an additional 250,887 shares during the last quarter. Fiera Capital Corp grew its position in RB Global by 2.2% in the 4th quarter. Fiera Capital Corp now owns 4,157,985 shares of the business services provider’s stock valued at $428,223,000 after acquiring an additional 90,982 shares during the last quarter. Finally, Invesco Ltd. grew its position in RB Global by 17.7% in the 3rd quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider’s stock valued at $310,293,000 after acquiring an additional 430,729 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.
Analyst Ratings Changes
Several brokerages have commented on RBA. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Royal Bank Of Canada upped their price objective on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Stephens reaffirmed an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. Finally, Barclays began coverage on RB Global in a research report on Thursday, May 28th. They issued an “overweight” rating and a $124.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.13.
RB Global Trading Up 1.5%
Shares of NYSE RBA opened at $107.74 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The stock has a market capitalization of $20.03 billion, a P/E ratio of 50.11, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57. RB Global, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58. The business has a fifty day moving average price of $103.79 and a 200 day moving average price of $104.33.
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last issued its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $0.89 earnings per share. RB Global’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that RB Global, Inc. will post 4.09 EPS for the current fiscal year.
RB Global Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 27th. RB Global’s payout ratio is presently 57.67%.
Insider Buying and Selling
In related news, Director Deborah Stein bought 425 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $103.15 per share, with a total value of $43,838.75. Following the purchase, the director directly owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.57% of the stock is owned by insiders.
About RB Global
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.
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