Rice Hall James & Associates LLC Takes $8.49 Million Position in RB Global, Inc. $RBA

Rice Hall James & Associates LLC bought a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 72,899 shares of the business services provider’s stock, valued at approximately $8,489,000.

Several other institutional investors and hedge funds have also bought and sold shares of RBA. EdgePoint Investment Group Inc. increased its position in shares of RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after purchasing an additional 1,111,217 shares during the last quarter. State Street Corp boosted its holdings in shares of RB Global by 1.7% in the 4th quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock valued at $647,118,000 after buying an additional 104,286 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of RB Global by 13.1% in the 1st quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock valued at $483,432,000 after buying an additional 585,617 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of RB Global by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock valued at $513,930,000 after buying an additional 250,887 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of RB Global by 7.0% in the first quarter. Janus Henderson Group PLC now owns 4,371,610 shares of the business services provider’s stock valued at $418,876,000 after buying an additional 285,713 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RBA. Weiss Ratings raised shares of RB Global from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Stephens restated an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Barclays cut their target price on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and a consensus target price of $128.00.

RB Global Stock Down 2.5%

RBA stock opened at $82.12 on Tuesday. RB Global, Inc. has a 1-year low of $82.03 and a 1-year high of $119.58. The business’s 50 day simple moving average is $107.35 and its 200 day simple moving average is $104.96. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $15.20 billion, a PE ratio of 35.24, a PEG ratio of 1.44 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, research analysts anticipate that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a $0.33 dividend. The ex-dividend date of this dividend 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 payout ratio is currently 53.22%.

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.