Hillsdale Investment Management Inc. increased its position in RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 52.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 128,100 shares of the business services provider’s stock after buying an additional 43,975 shares during the period. Hillsdale Investment Management Inc.’s holdings in RB Global were worth $12,282,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in RB Global by 1.5% during the fourth 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 acquiring an additional 165,260 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of RB Global by 11.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock worth $792,934,000 after purchasing an additional 821,319 shares during the period. State Street Corp lifted its stake in shares of RB Global by 1.7% in the 4th quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock valued at $647,118,000 after purchasing an additional 104,286 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 250,887 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of RB Global by 2.2% during the 4th quarter. Fiera Capital Corp now owns 4,157,985 shares of the business services provider’s stock worth $428,223,000 after purchasing an additional 90,982 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on RBA. Barclays initiated coverage on shares of RB Global in a research report on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price for the company. Zacks Research upgraded shares of RB Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. Royal Bank Of Canada boosted their price objective on shares of RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Wall Street Zen raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, RB Global currently has a consensus rating of “Buy” and an average price target of $127.12.
Insider Activity
In other news, Director Deborah Stein acquired 425 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the purchase, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by corporate insiders.
RB Global Price Performance
Shares of NYSE RBA opened at $108.83 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58. The company has a market capitalization of $20.23 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 1.69 and a beta of 0.55. The business has a 50-day moving average of $107.51 and a 200-day moving average of $105.95.
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last announced its earnings results 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. The business had revenue of $888.01 million for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. On average, equities analysts anticipate that RB Global, Inc. will post 4.16 EPS for the current fiscal year.
RB Global Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were given a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global’s dividend payout ratio (DPR) is 57.67%.
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.
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