Kensico Capital Management Corp Boosts Position in RB Global, Inc. $RBA

Kensico Capital Management Corp raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 152.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,044,000 shares of the business services provider’s stock after acquiring an additional 629,700 shares during the quarter. RB Global makes up 1.7% of Kensico Capital Management Corp’s portfolio, making the stock its 14th biggest holding. Kensico Capital Management Corp owned 0.56% of RB Global worth $113,128,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of RB Global by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock worth $2,744,455,000 after purchasing an additional 124,926 shares during the period. Massachusetts Financial Services Co. MA grew its position in RB Global by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock valued at $1,162,370,000 after buying an additional 705,423 shares during the period. Vontobel Holding Ltd. grew its position in RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after buying an additional 672,450 shares during the period. Fiera Capital Corp increased its holdings in RB Global by 4.9% during the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock valued at $440,353,000 after buying an additional 190,408 shares during the last quarter. Finally, Invesco Ltd. raised its position in RB Global by 17.7% in the third quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider’s stock worth $310,293,000 after acquiring an additional 430,729 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at $12,370,435. This trade represents a 16.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.28% of the stock is owned by insiders.

RB Global Price Performance

NYSE:RBA opened at $98.66 on Monday. The business’s 50-day simple moving average is $108.33 and its two-hundred day simple moving average is $106.17. RB Global, Inc. has a 52 week low of $87.87 and a 52 week high of $119.58. The stock has a market cap of $18.34 billion, a PE ratio of 48.36, a P/E/G ratio of 1.50 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, February 9th. RB Global’s dividend payout ratio is presently 60.78%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RBA shares. BMO Capital Markets lifted their price target on shares of RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a research note on Monday, November 24th. Royal Bank Of Canada raised their target price on RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Finally, Raymond James Financial boosted their price target on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, RB Global presently has an average rating of “Buy” and an average price target of $129.29.

RB Global 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.