Invst LLC acquired a new position in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,754 shares of the business services provider’s stock, valued at approximately $1,252,000.
Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of RB Global by 94.3% in the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after buying an additional 5,090 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after acquiring an additional 204 shares in the last quarter. Jones Financial Companies Lllp grew its stake in RB Global by 857.9% in the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 3,346 shares during the period. Goldman Sachs Group Inc. grew its stake in RB Global by 35.6% in the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after acquiring an additional 88,813 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of RB Global in the first quarter worth about $4,103,000. Institutional investors own 95.37% of the company’s stock.
RB Global Stock Up 1.2%
RBA stock opened at $85.12 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The stock has a market capitalization of $15.76 billion, a P/E ratio of 36.53, a P/E/G ratio of 1.44 and a beta of 0.56. RB Global, Inc. has a fifty-two week low of $82.03 and a fifty-two week high of $119.58. The business has a 50-day moving average of $104.72 and a 200-day moving average of $103.74.
RB Global Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. RB Global’s dividend payout ratio is 53.22%.
Insider Activity at RB Global
In other RB Global news, Director Chloe Harford acquired 1,200 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $83.74 per share, with a total value of $100,488.00. Following the completion of the transaction, the director directly owned 1,200 shares in the company, valued at $100,488. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have recently commented on RBA. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Royal Bank Of Canada increased their target price on RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a report on Tuesday, June 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, RB Global presently has an average rating of “Moderate Buy” and a consensus target price of $128.00.
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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