RB Global, Inc. $RBA Position Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,141,584 shares of the business services provider’s stock after selling 43,610 shares during the period. Bank of New York Mellon Corp’s holdings in RB Global were worth $121,225,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RBA. Massachusetts Financial Services Co. MA raised its stake in shares of RB Global by 3.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider’s stock worth $1,027,191,000 after purchasing an additional 352,530 shares in the last quarter. Fiera Capital Corp grew its stake in shares of RB Global by 17.3% in the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock valued at $379,150,000 after buying an additional 557,407 shares in the last quarter. Invesco Ltd. increased 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 worth $244,360,000 after buying an additional 516,865 shares during the last quarter. Wellington Management Group LLP raised its position in RB Global by 1.1% during 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 acquiring an additional 19,543 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in RB Global by 44.4% in the first quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider’s stock valued at $151,331,000 after acquiring an additional 463,844 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on RBA shares. Raymond James Financial boosted their target price 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. Bank of America reduced their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday. Wall Street Zen raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, National Bankshares reduced their price target on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research report on Thursday, October 9th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.71.

RB Global Stock Up 4.4%

RB Global stock opened at $100.43 on Friday. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 49.72, a P/E/G ratio of 2.48 and a beta of 0.66. 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 fifty-two week low of $85.55 and a fifty-two week high of $119.58. The firm has a fifty day moving average price of $107.67 and a two-hundred day moving average price of $107.54.

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

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be issued a $0.31 dividend. 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 1.2%. RB Global’s dividend payout ratio (DPR) is 61.39%.

Insider Buying and Selling

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

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.