Arvin Capital Management LP Purchases 60,896 Shares of RB Global, Inc. $RBA

Arvin Capital Management LP grew its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 64.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,996 shares of the business services provider’s stock after acquiring an additional 60,896 shares during the quarter. RB Global comprises 3.0% of Arvin Capital Management LP’s holdings, making the stock its 12th largest holding. Arvin Capital Management LP’s holdings in RB Global were worth $16,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd increased its holdings in shares of RB Global by 11.6% during the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after acquiring an additional 97 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of RB Global by 5.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 105 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 107 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of RB Global by 1.4% during the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock valued at $866,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 1.5%

Shares of NYSE:RBA opened at $107.74 on Friday. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 1.71 and a beta of 0.57. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. RB Global, Inc. has a 12-month low of $93.58 and a 12-month high of $119.58. The business’s 50 day moving average is $103.79 and its 200 day moving average is $104.33.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.RB Global’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. On average, sell-side analysts forecast that RB Global, Inc. will post 4.09 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global’s payout ratio is currently 57.67%.

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein acquired 425 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RBA. Barclays assumed coverage on RB Global in a report on Thursday, May 28th. They set an “overweight” rating and a $124.00 price objective for the company. Stephens reaffirmed an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Royal Bank Of Canada lifted their target price on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.13.

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.