RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $128.00.
Several analysts have commented on RBA shares. Weiss Ratings lowered shares of RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Royal Bank Of Canada increased their target price on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research report 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 price target for the company in a research note on Tuesday, June 30th. Zacks Research cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Barclays dropped their price objective on RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd.
Read Our Latest Analysis on RB Global
RB Global Trading Up 0.0%
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts predict that RB Global will post 4.06 EPS for the current year.
RB Global Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, August 25th. This is a boost from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. RB Global’s dividend payout ratio is presently 56.65%.
Insider Activity at RB Global
In other news, Director Chloe Harford purchased 1,200 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were purchased at an average price of $83.74 per share, with a total value of $100,488.00. Following the transaction, the director directly owned 1,200 shares of the company’s stock, valued at approximately $100,488. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On RB Global
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its position in RB Global by 9.2% during the first quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock worth $19,873,000 after buying an additional 17,489 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of RB Global by 7.8% in the 1st quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock valued at $139,216,000 after acquiring an additional 104,560 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of RB Global by 127.3% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider’s stock valued at $3,068,000 after acquiring an additional 14,755 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of RB Global during the 2nd quarter valued at about $17,590,000. Finally, K.J. Harrison & Partners Inc grew its holdings in shares of RB Global by 55.3% during the fourth quarter. K.J. Harrison & Partners Inc now owns 93,723 shares of the business services provider’s stock worth $9,663,000 after purchasing an additional 33,374 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.
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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