RB Global, Inc. $RBA Stock Position Raised by QV Investors Inc.

QV Investors Inc. increased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 413,817 shares of the business services provider’s stock after buying an additional 3,004 shares during the period. RB Global accounts for approximately 4.3% of QV Investors Inc.’s portfolio, making the stock its 7th largest holding. QV Investors Inc.’s holdings in RB Global were worth $43,875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RBA. GAMMA Investing LLC raised its position in shares of RB Global by 28.6% in the first quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider’s stock worth $161,000 after buying an additional 358 shares in the last quarter. Bessemer Group Inc. raised its position in shares of RB Global by 1.6% in the first quarter. Bessemer Group Inc. now owns 16,441 shares of the business services provider’s stock worth $1,649,000 after buying an additional 257 shares in the last quarter. PDS Planning Inc purchased a new stake in shares of RB Global in the first quarter worth $206,000. New York State Teachers Retirement System raised its position in shares of RB Global by 8.4% in the first quarter. New York State Teachers Retirement System now owns 106,773 shares of the business services provider’s stock worth $10,709,000 after buying an additional 8,302 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its position in shares of RB Global by 3.0% in the first quarter. Peregrine Capital Management LLC now owns 72,607 shares of the business services provider’s stock worth $7,282,000 after buying an additional 2,097 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Raymond James Financial increased their target price on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada increased their target price on RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. National Bankshares reduced their target price on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. BMO Capital Markets increased their target price on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, CIBC increased their target price on RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research note on Friday, July 18th. Four equities research 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 currently has an average rating of “Moderate Buy” and an average target price of $124.00.

RB Global Trading Up 0.1%

NYSE RBA opened at $101.87 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a twelve month low of $84.31 and a twelve month high of $119.58. The firm has a market capitalization of $18.91 billion, a PE ratio of 50.43, a P/E/G ratio of 2.37 and a beta of 0.65. The stock’s 50 day moving average is $110.84 and its 200 day moving average is $107.34.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.31 per share. The ex-dividend date was Thursday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global’s dividend payout ratio (DPR) is 61.39%.

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.