Commerce Bank Invests $3.02 Million in RB Global, Inc. $RBA

Commerce Bank acquired a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, Holdings Channel reports. The firm acquired 25,921 shares of the business services provider’s stock, valued at approximately $3,019,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of RB Global in the 2nd quarter worth approximately $1,816,059,000. T. Rowe Price Investment Management Inc. boosted its holdings in RB Global by 6,120,490.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock worth $251,851,000 after buying an additional 2,448,196 shares in the last quarter. Norges Bank bought a new stake in RB Global during the fourth quarter worth approximately $231,813,000. Lazard Asset Management LLC acquired a new position in RB Global in the first quarter worth approximately $210,091,000. Finally, EdgePoint Investment Group Inc. grew its position in RB Global by 14.4% in the first quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after buying an additional 1,111,217 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Trading Down 3.4%

NYSE RBA opened at $84.06 on Tuesday. The firm’s 50 day moving average price is $105.23 and its two-hundred day moving average price is $103.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. RB Global, Inc. has a twelve month low of $82.03 and a twelve month high of $119.58. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 1.49 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping 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 analysts’ expectations of $1.21 billion. Equities analysts anticipate that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, August 25th. This is a boost from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio is 53.22%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RBA shares. BMO Capital Markets reiterated an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Royal Bank Of Canada boosted their target price on RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Weiss Ratings lowered RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. 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. According to data from MarketBeat, RB Global presently has an average rating of “Moderate Buy” and a consensus target price of $128.00.

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.