Running Oak Capital LLC Has $11.24 Million Stock Holdings in RB Global, Inc. (NYSE:RBA)

Running Oak Capital LLC boosted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,531 shares of the business services provider’s stock after purchasing an additional 12,534 shares during the quarter. RB Global comprises approximately 1.8% of Running Oak Capital LLC’s holdings, making the stock its 25th largest position. Running Oak Capital LLC owned about 0.08% of RB Global worth $11,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBA. Vanguard Group Inc. grew its stake in shares of RB Global by 144.9% in the third quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock worth $1,415,456,000 after acquiring an additional 13,400,942 shares during the last quarter. Vontobel Asset Management Inc. increased its holdings in shares of RB Global by 66.5% during the 4th quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after purchasing an additional 2,655,388 shares during the period. Norges Bank bought a new position in shares of RB Global during the 4th quarter worth about $141,970,000. Legal & General Group Plc acquired a new position in shares of RB Global during the third quarter valued at about $49,791,000. Finally, Wellington Management Group LLP lifted its stake in shares of RB Global by 26.8% in the fourth quarter. Wellington Management Group LLP now owns 1,183,761 shares of the business services provider’s stock valued at $79,603,000 after buying an additional 250,109 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBA. Bank of America upped 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. Royal Bank of Canada lifted their price target on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Raymond James increased their price objective on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. CIBC assumed coverage on shares of RB Global in a research note on Tuesday. They issued a “sector outperform” rating and a $95.00 target price on the stock. Finally, Scotiabank increased their target price on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

RB Global Price Performance

Shares of RBA traded down $0.59 on Friday, hitting $77.60. The company’s stock had a trading volume of 27,368,920 shares, compared to its average volume of 1,442,232. The company has a market capitalization of $14.19 billion, a PE ratio of 46.75, a PEG ratio of 5.35 and a beta of 0.88. RB Global, Inc. has a fifty-two week low of $55.09 and a fifty-two week high of $81.74. The company has a 50 day moving average price of $74.84 and a 200 day moving average price of $71.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 1.17.

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 company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts anticipate that RB Global, Inc. will post 2.04 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 20th. Shareholders of record on Wednesday, May 29th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.39%. The ex-dividend date was Wednesday, May 29th. RB Global’s dividend payout ratio is 65.06%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now owns 78,104 shares of the company’s stock, valued at approximately $6,319,394.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Darren Jeffrey Watt sold 3,637 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $80.66, for a total value of $293,360.42. Following the completion of the sale, the insider now owns 17,279 shares in the company, valued at $1,393,724.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Francis Kessler sold 8,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total value of $647,280.00. Following the completion of the transaction, the chief executive officer now directly owns 78,104 shares in the company, valued at approximately $6,319,394.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,867 shares of company stock worth $3,370,272. Insiders own 4.32% of the company’s stock.

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.