iSAM Funds UK Ltd Takes $1.55 Million Position in RB Global, Inc. $RBA

iSAM Funds UK Ltd bought a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,293 shares of the business services provider’s stock, valued at approximately $1,549,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in RB Global in the 2nd quarter worth about $255,798,000. JARISLOWSKY FRASER Ltd purchased a new position in shares of RB Global during the third quarter valued at approximately $195,640,000. Massachusetts Financial Services Co. MA boosted its position in shares of RB Global by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock valued at $1,162,370,000 after buying an additional 705,423 shares during the period. Vontobel Holding Ltd. grew its stake in shares of RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after buying an additional 672,450 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of RB Global by 17.7% during the third quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider’s stock valued at $310,293,000 after buying an additional 430,729 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

Shares of RB Global stock opened at $98.66 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock’s fifty day moving average price is $108.33 and its 200-day moving average price is $106.31. The firm has a market cap of $18.34 billion, a P/E ratio of 48.36, a P/E/G ratio of 1.49 and a beta of 0.57. RB Global, Inc. has a 12 month low of $87.87 and a 12 month 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, topping analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, February 9th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, February 9th. RB Global’s dividend payout ratio is presently 60.78%.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.32% of the company’s stock.

About RB Global

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.