RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $89.54 and last traded at $89.6350, with a volume of 1786642 shares trading hands. The stock had previously closed at $93.82.
Analysts Set New Price Targets
A number of brokerages recently issued reports on RBA. BMO Capital Markets reissued an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a report on Tuesday, June 30th. Barclays cut their price objective 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, National Bank Financial boosted their price objective on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $128.00.
Read Our Latest Research Report on RB Global
RB Global Stock Performance
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.09 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. As a group, equities research analysts anticipate that RB Global, Inc. will post 4.16 EPS for the current year.
RB Global Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 1.5%. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s payout ratio is 53.22%.
Insider Buying and Selling
In other RB Global news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 1,825 shares in the company, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in RB Global in the 2nd quarter worth approximately $1,816,059,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of RB Global by 6,120,490.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock valued at $251,851,000 after purchasing an additional 2,448,196 shares during the period. Norges Bank purchased a new stake in shares of RB Global during the fourth quarter valued at approximately $231,813,000. Lazard Asset Management LLC bought a new position in shares of RB Global in the first quarter worth approximately $210,091,000. Finally, EdgePoint Investment Group Inc. grew its holdings in shares of RB Global by 14.4% in the first quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after purchasing an additional 1,111,217 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.
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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