Osmosis Investment Management UK Ltd Buys New Stake in RB Global, Inc. $RBA

Osmosis Investment Management UK Ltd bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, HoldingsChannel reports. The fund bought 7,074 shares of the business services provider’s stock, valued at approximately $824,000.

Several other hedge funds also recently bought and sold shares of RBA. Personal CFO Solutions LLC lifted its position in shares of RB Global by 0.9% in the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock valued at $1,073,000 after acquiring an additional 96 shares in the last quarter. Covestor Ltd increased its position in RB Global by 11.6% during the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock worth $96,000 after purchasing an additional 97 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 105 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in shares of RB Global by 1.4% during the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock worth $866,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

NYSE RBA opened at $84.06 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. RB Global, Inc. has a 1-year low of $82.03 and a 1-year high of $119.58. The firm has a market capitalization of $15.56 billion, a P/E ratio of 36.08, a P/E/G ratio of 1.49 and a beta of 0.56. The business’s 50-day simple moving average is $105.23 and its 200-day simple moving average is $103.96.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. Equities analysts predict that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. 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 53.22%.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of analyst reports. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. Barclays cut their price target on RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, National Bank Financial raised their price objective on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.00.

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.