RB Global, Inc. (NYSE:RBA) Shares Acquired by Covestor Ltd

Covestor Ltd increased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 78.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,422 shares of the business services provider’s stock after purchasing an additional 623 shares during the period. Covestor Ltd’s holdings in RB Global were worth $108,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RBA. YHB Investment Advisors Inc. bought a new position in RB Global in the first quarter worth about $27,000. Hollencrest Capital Management bought a new position in RB Global in the first quarter worth about $33,000. Oakworth Capital Inc. lifted its holdings in RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after acquiring an additional 162 shares during the last quarter. GAMMA Investing LLC bought a new position in RB Global in the fourth quarter worth about $54,000. Finally, Brown Brothers Harriman & Co. bought a new position in RB Global in the fourth quarter worth about $72,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Performance

Shares of RBA traded down $0.10 during mid-day trading on Tuesday, reaching $80.19. 242,152 shares of the company’s stock traded hands, compared to its average volume of 1,144,050. The business’s 50-day moving average price is $77.05 and its 200-day moving average price is $73.28. The stock has a market capitalization of $14.66 billion, a P/E ratio of 48.36, a price-to-earnings-growth ratio of 5.45 and a beta of 0.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.17 and a current ratio of 1.29. RB Global, Inc. has a 12 month low of $55.54 and a 12 month high of $81.87.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, May 9th. The business services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Equities analysts predict that RB Global, Inc. will post 2.04 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, May 29th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, May 29th. This represents a $1.08 annualized dividend and a yield of 1.35%. RB Global’s payout ratio is 65.06%.

Wall Street Analyst Weigh In

RBA has been the topic of a number of recent research reports. CIBC initiated coverage on shares of RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price on the stock. Bank of America lifted their price target on RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Scotiabank lifted their price target on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.50.

Insider Buying and Selling

In related news, insider Baron Concors sold 13,230 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the sale, the insider now owns 15,487 shares of the company’s stock, valued at $1,162,299.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other RB Global news, insider Baron Concors sold 13,230 shares of RB Global stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.05, for a total value of $992,911.50. Following the transaction, the insider now owns 15,487 shares in the company, valued at $1,162,299.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO James J. Jeter sold 14,000 shares of RB Global stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the transaction, the executive now owns 28,267 shares in the company, valued at approximately $2,132,179.81. The disclosure for this sale can be found here. Insiders have sold a total of 43,867 shares of company stock valued at $3,370,272 over the last quarter. Corporate insiders own 4.32% of the company’s stock.

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.