PEAK6 LLC Makes New $5.64 Million Investment in RB Global, Inc. $RBA

PEAK6 LLC bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, HoldingsChannel reports. The firm bought 48,448 shares of the business services provider’s stock, valued at approximately $5,642,000.

Other hedge funds have also modified their holdings of the company. Addison Advisors LLC purchased a new position in RB Global in the second quarter worth $26,000. J.Safra Asset Management Corp acquired a new stake in shares of RB Global in the second quarter valued at about $32,000. MV Capital Management Inc. acquired a new position in RB Global during the fourth quarter worth about $29,000. Bayban purchased a new position in RB Global in the fourth quarter valued at about $34,000. Finally, State of Wyoming purchased a new position in RB Global in the second quarter valued at about $46,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on RBA. Royal Bank Of Canada boosted their price target on RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Stephens reiterated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a report on Tuesday, June 30th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average price target of $128.00.

RB Global Stock Down 0.1%

Shares of NYSE:RBA opened at $86.97 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $16.10 billion, a P/E ratio of 37.33, a P/E/G ratio of 1.49 and a beta of 0.56. RB Global, Inc. has a 52-week low of $82.03 and a 52-week high of $119.58. The stock’s fifty day simple moving average is $105.76 and its 200-day simple moving average is $104.17.

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

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.5%. RB Global’s payout ratio is currently 53.22%.

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.