Walleye Capital LLC Boosts Position in RB Global, Inc. $RBA

Walleye Capital LLC boosted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 19.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,935 shares of the business services provider’s stock after acquiring an additional 55,857 shares during the period. Walleye Capital LLC’s holdings in RB Global were worth $32,679,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new position in RB Global during the fourth quarter worth about $29,000. Bayban purchased a new stake in shares of RB Global in the 4th quarter valued at about $34,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of RB Global during the 1st quarter valued at about $43,000. State of Wyoming bought a new stake in shares of RB Global during the 2nd quarter valued at about $46,000. Finally, Nemes Rush Group LLC purchased a new position in shares of RB Global during the fourth quarter worth about $54,000. Institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In other news, Director Deborah Stein purchased 425 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the transaction, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by insiders.

RB Global Stock Up 0.0%

Shares of NYSE RBA opened at $110.56 on Thursday. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The firm’s 50 day simple moving average is $108.48 and its two-hundred day simple moving average is $106.27. The stock has a market capitalization of $20.60 billion, a P/E ratio of 51.42, a PEG ratio of 1.73 and a beta of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. The firm had revenue of $888.01 million during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. As a group, analysts expect that RB Global, Inc. will post 4.16 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were given a $0.31 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global’s payout ratio is presently 57.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. BMO Capital Markets reissued an “outperform” rating and issued a $135.00 price target (up from $130.00) on shares of RB Global in a research note on Tuesday, May 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. Zacks Research raised shares of RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Finally, Stephens reiterated an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $127.57.

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.