K.J. Harrison & Partners Inc Lowers Position in RB Global, Inc. $RBA

K.J. Harrison & Partners Inc decreased its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,738 shares of the business services provider’s stock after selling 4,985 shares during the period. RB Global accounts for 1.4% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 14th largest position. K.J. Harrison & Partners Inc’s holdings in RB Global were worth $8,493,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Covestor Ltd boosted its holdings in shares of RB Global by 11.6% in the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 97 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after buying an additional 97 shares during the last quarter. Coldstream Capital Management Inc. raised its position in shares of RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock worth $221,000 after buying an additional 105 shares during the period. Central Pacific Bank Trust Division raised its position in shares of RB Global by 41.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after buying an additional 107 shares during the period. Finally, Sigma Planning Corp boosted its holdings in RB Global by 1.4% in the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock valued at $866,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RBA shares. Wall Street Zen upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada lifted their price objective on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RB Global in a report on Tuesday, May 26th. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price for the company in a research report on Tuesday. Finally, Barclays started coverage on shares of RB Global in a report on Thursday, May 28th. They issued an “overweight” rating and a $124.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $126.12.

RB Global Trading Down 0.1%

Shares of RBA opened at $112.72 on Friday. RB Global, Inc. has a 12 month low of $93.58 and a 12 month high of $119.58. The stock’s 50-day moving average is $106.89 and its two-hundred day moving average is $105.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The stock has a market cap of $20.96 billion, a PE ratio of 52.43, a P/E/G ratio of 1.76 and a beta of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The firm had revenue of $888.01 million for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.89 EPS. RB Global’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts forecast that RB Global, Inc. will post 4.16 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently disclosed 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 was Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global’s payout ratio is currently 57.67%.

Insider Buying and Selling

In other news, Director Deborah Stein acquired 425 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the transaction, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% 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.