RB Global, Inc. $RBA Shares Acquired by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. lifted its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 51.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,909 shares of the business services provider’s stock after acquiring an additional 13,875 shares during the quarter. RB Global accounts for about 0.5% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 16th largest position. Armstrong Henry H Associates Inc.’s holdings in RB Global were worth $4,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its position in shares of RB Global by 9.2% during the first quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock worth $19,873,000 after buying an additional 17,489 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of RB Global by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock worth $1,120,479,000 after buying an additional 165,260 shares during the period. Wilson Asset Management International PTY Ltd. raised its holdings in RB Global by 8.5% in the fourth quarter. Wilson Asset Management International PTY Ltd. now owns 139,295 shares of the business services provider’s stock valued at $14,329,000 after acquiring an additional 10,951 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in RB Global by 20.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 173,358 shares of the business services provider’s stock valued at $17,833,000 after acquiring an additional 29,530 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in RB Global by 7.8% in the first quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock worth $139,216,000 after acquiring an additional 104,560 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Trading Down 3.2%

NYSE RBA opened at $92.60 on Friday. The firm’s fifty day moving average is $109.66 and its two-hundred day moving average is $106.31. RB Global, Inc. has a one year low of $92.28 and a one year high of $119.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.07 and a current ratio of 1.31. The firm has a market cap of $17.14 billion, a PE ratio of 39.74, a P/E/G ratio of 1.96 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. Analysts expect that RB Global, Inc. will post 4.16 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.4%. This is a boost from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is currently 53.22%.

Insiders Place Their Bets

In related 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 owned 1,825 shares of the company’s stock, valued at $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBA. Barclays lowered their price target on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. National Bank Financial raised their price objective on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Stephens reiterated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Finally, Zacks Research raised RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, RB Global has a consensus rating of “Buy” and a consensus price target of $128.00.

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.