RB Global, Inc. $RBA Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 785,618 shares of the business services provider’s stock after acquiring an additional 57,870 shares during the quarter. Dimensional Fund Advisors LP owned about 0.42% of RB Global worth $75,297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in shares of RB Global by 6,120,490.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock worth $251,851,000 after purchasing an additional 2,448,196 shares in the last quarter. Norges Bank purchased a new position in RB Global in the 4th quarter valued at $231,813,000. EdgePoint Investment Group Inc. lifted its holdings in RB Global by 11.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock valued at $792,934,000 after purchasing an additional 821,319 shares in the last quarter. Janus Henderson Group PLC boosted its stake in RB Global by 16.4% during the 4th quarter. Janus Henderson Group PLC now owns 4,085,897 shares of the business services provider’s stock worth $420,417,000 after purchasing an additional 576,347 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in RB Global by 58.7% during the 3rd quarter. Bank of America Corp DE now owns 1,533,783 shares of the business services provider’s stock worth $166,201,000 after purchasing an additional 567,431 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RBA shares. Barclays reduced their target price on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Stephens restated an “equal weight” rating and set a $96.00 price target on shares of RB Global in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their price objective on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, RB Global has an average rating of “Buy” and a consensus price target of $127.57.

Insider Buying and Selling at RB Global

In other news, Director Deborah Stein purchased 425 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the purchase, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

RB Global Stock Down 0.2%

NYSE RBA opened at $109.75 on Friday. RB Global, Inc. has a 52 week low of $93.58 and a 52 week high of $119.58. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $109.81 and its 200-day simple moving average is $106.58. The firm has a market cap of $20.32 billion, a PE ratio of 51.05, a P/E/G ratio of 2.25 and a beta of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The firm had revenue of $888.01 million during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. RB Global’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts anticipate that RB Global, Inc. will post 4.16 earnings per share for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is presently 57.67%.

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.