Hsbc Holdings PLC Boosts Stock Holdings in RB Global, Inc. $RBA

Hsbc Holdings PLC increased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 245,029 shares of the business services provider’s stock after buying an additional 16,281 shares during the period. Hsbc Holdings PLC owned 0.13% of RB Global worth $26,052,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RBA. Vanguard Group Inc. boosted its stake in shares of RB Global by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 25,205,500 shares of the business services provider’s stock worth $2,676,926,000 after acquiring an additional 289,094 shares in the last quarter. Geode Capital Management LLC raised its holdings in RB Global by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock worth $482,383,000 after purchasing an additional 317,781 shares during the period. Fiera Capital Corp boosted its position in RB Global by 2.7% during the second quarter. Fiera Capital Corp now owns 3,876,595 shares of the business services provider’s stock worth $411,586,000 after purchasing an additional 102,681 shares in the last quarter. Invesco Ltd. grew its holdings in RB Global by 26.9% in the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider’s stock valued at $244,360,000 after purchasing an additional 516,865 shares during the period. Finally, Wellington Management Group LLP grew its holdings in RB Global by 1.1% in the first quarter. Wellington Management Group LLP now owns 1,854,476 shares of the business services provider’s stock valued at $186,098,000 after purchasing an additional 19,543 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

RBA has been the topic of a number of recent analyst reports. Weiss Ratings lowered 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 report on Thursday, October 9th. Raymond James Financial upped their price target on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a research note on Monday, November 24th. Finally, Bank of America cut their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.88.

RB Global Stock Performance

RBA opened at $98.13 on Tuesday. RB Global, Inc. has a twelve month low of $86.68 and a twelve month high of $119.58. The firm has a market capitalization of $18.22 billion, a PE ratio of 48.58, a PEG ratio of 2.48 and a beta of 0.65. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $101.92 and its 200 day moving average price is $107.26.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. As a group, sell-side analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. RB Global’s payout ratio is 59.33%.

Insider Buying and Selling at RB Global

In other news, Director Deborah Stein acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $101.26 per share, with a total value of $101,260.00. Following the completion of the acquisition, the director owned 1,000 shares of the company’s stock, valued at $101,260. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. Additional details regarding this sale are available in the official SEC disclosure. 4.32% of the stock is owned by corporate insiders.

About RB Global

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.