Cooke & Bieler LP Decreases Stake in RB Global, Inc. $RBA

Cooke & Bieler LP lessened its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,906,712 shares of the business services provider’s stock after selling 153,712 shares during the period. RB Global makes up about 3.1% of Cooke & Bieler LP’s holdings, making the stock its 2nd biggest position. Cooke & Bieler LP owned 1.57% of RB Global worth $308,664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBA. SouthState Corp bought a new position in shares of RB Global in the first quarter worth $26,000. SVB Wealth LLC bought a new position in shares of RB Global in the first quarter worth $28,000. IFP Advisors Inc increased its stake in RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after acquiring an additional 279 shares during the last quarter. Rise Advisors LLC bought a new position in RB Global in the 1st quarter worth about $38,000. Finally, Whipplewood Advisors LLC increased its stake in RB Global by 42.9% in the 2nd quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Down 1.3%

Shares of NYSE RBA opened at $99.16 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global, Inc. has a one year low of $84.31 and a one year high of $119.58. The firm’s 50 day simple moving average is $109.38 and its two-hundred day simple moving average is $107.50. The stock has a market capitalization of $18.41 billion, a P/E ratio of 49.09, a PEG ratio of 2.48 and a beta of 0.65.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm earned $0.94 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from RB Global’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, August 28th. RB Global’s payout ratio is 61.39%.

Insider Transactions at RB Global

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RBA has been the topic of several research analyst reports. Weiss Ratings cut shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. National Bankshares decreased their price objective on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 9th. Royal Bank Of Canada increased their price target on shares of RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Raymond James Financial increased their price target on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, BMO Capital Markets increased their target price on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and an average price target of $123.43.

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.