Bessemer Group Inc. Reduces Stock Position in RB Global, Inc. $RBA

Bessemer Group Inc. cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 67.1% during the 1st quarter, Holdings Channel reports. The firm owned 4,934 shares of the business services provider’s stock after selling 10,049 shares during the period. Bessemer Group Inc.’s holdings in RB Global were worth $473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MV Capital Management Inc. bought a new position in RB Global in the 4th quarter worth $29,000. Bayban purchased a new position in shares of RB Global during the 4th quarter worth approximately $34,000. State of Wyoming bought a new position in shares of RB Global in the 2nd quarter worth approximately $46,000. Nemes Rush Group LLC bought a new stake in shares of RB Global during the fourth quarter valued at approximately $54,000. Finally, Geneos Wealth Management Inc. raised its holdings in RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE:RBA opened at $111.68 on Friday. 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 firm has a market cap of $20.71 billion, a price-to-earnings ratio of 51.95, a price-to-earnings-growth ratio of 1.71 and a beta of 0.55. The business has a 50-day simple moving average of $108.82 and a two-hundred day simple moving average of $106.35. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates 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 $888.01 million during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts expect that RB Global, Inc. will post 4.16 earnings per share for the current year.

RB Global Dividend Announcement

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

Analyst Upgrades and Downgrades

RBA has been the topic of a number of research reports. Zacks Research upgraded shares of RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada boosted their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, BMO Capital Markets restated an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $127.57.

Insiders Place Their Bets

In other news, Director Deborah Stein bought 425 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The transaction 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 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.