ProShare Advisors LLC Purchases 7,718 Shares of RB Global, Inc. $RBA

ProShare Advisors LLC boosted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 334,244 shares of the business services provider’s stock after buying an additional 7,718 shares during the quarter. ProShare Advisors LLC’s holdings in RB Global were worth $34,384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division grew its position in shares of RB Global by 41.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 107 shares during the period. State of Wyoming bought a new position in RB Global in the 2nd quarter worth approximately $46,000. Geneos Wealth Management Inc. boosted its holdings in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after buying an additional 97 shares during the period. NewEdge Advisors LLC lifted its stake in RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after purchasing an additional 204 shares in the last quarter. Finally, Merrithew & Thorsten Inc purchased a new stake in RB Global in the 4th quarter worth approximately $61,000. 95.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RBA has been the topic of several recent analyst reports. Raymond James Financial increased their target price on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Stephens reissued an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Finally, Royal Bank Of Canada lifted their target price on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $126.43.

Insider Buying and Selling

In other RB Global news, Director Deborah Stein bought 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the acquisition, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

RB Global Stock Up 0.3%

Shares of RB Global stock opened at $103.19 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The company has a 50-day simple moving average of $101.28 and a two-hundred day simple moving average of $103.59. RB Global, Inc. has a 52-week low of $93.58 and a 52-week high of $119.58. The stock has a market capitalization of $19.18 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 1.64 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.89 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, analysts anticipate that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 27th. RB Global’s dividend payout ratio is currently 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.