Swiss National Bank Decreases Stock Holdings in RB Global, Inc. $RBA

Swiss National Bank lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532,943 shares of the business services provider’s stock after selling 29,700 shares during the quarter. Swiss National Bank owned about 0.29% of RB Global worth $57,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RBA. Norges Bank purchased a new stake in shares of RB Global during the second quarter valued at about $255,798,000. JARISLOWSKY FRASER Ltd purchased a new position in shares of RB Global in the 3rd quarter worth approximately $195,640,000. Massachusetts Financial Services Co. MA raised its stake in shares of RB Global by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after acquiring an additional 705,423 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of RB Global by 10.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after acquiring an additional 672,450 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in RB Global by 7.5% during the second quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock valued at $482,383,000 after acquiring an additional 317,781 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

NYSE:RBA opened at $102.17 on Thursday. The firm’s fifty day moving average is $108.52 and its two-hundred day moving average is $106.48. The firm has a market cap of $18.99 billion, a price-to-earnings ratio of 50.08, a PEG ratio of 1.57 and a beta of 0.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. RB Global, Inc. has a one year low of $87.87 and a one year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.95 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, February 9th. RB Global’s dividend payout ratio (DPR) is currently 60.78%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a report on Monday, November 24th. Raymond James Financial increased their price objective on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Weiss Ratings raised RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Royal Bank Of Canada boosted their target price on RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Finally, BMO Capital Markets upped their target price on RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $129.29.

Insider Transactions at RB Global

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.