Magnetar Financial LLC Has $4.19 Million Stock Position in RB Global, Inc. $RBA

Magnetar Financial LLC lifted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1,498.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,660 shares of the business services provider’s stock after purchasing an additional 36,242 shares during the quarter. Magnetar Financial LLC’s holdings in RB Global were worth $4,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC raised its stake in shares of RB Global by 1.6% in the third quarter. Quadrant Capital Group LLC now owns 11,423 shares of the business services provider’s stock valued at $1,238,000 after purchasing an additional 177 shares in the last quarter. Legal & General Group Plc boosted its position in shares of RB Global by 27.9% during the 3rd quarter. Legal & General Group Plc now owns 978,272 shares of the business services provider’s stock valued at $105,986,000 after acquiring an additional 213,601 shares in the last quarter. Russell Investments Group Ltd. increased its stake in RB Global by 29.2% in the third quarter. Russell Investments Group Ltd. now owns 100,162 shares of the business services provider’s stock valued at $10,846,000 after acquiring an additional 22,658 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in RB Global in the third quarter valued at about $584,000. Finally, First Trust Advisors LP raised its position in RB Global by 65.4% in the third quarter. First Trust Advisors LP now owns 68,576 shares of the business services provider’s stock worth $7,431,000 after purchasing an additional 27,123 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Performance

RBA stock opened at $102.17 on Thursday. RB Global, Inc. has a twelve month low of $87.87 and a twelve month high of $119.58. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The company has a market cap of $18.99 billion, a P/E ratio of 50.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.57. The business’s fifty day moving average is $108.52 and its 200-day moving average is $106.48.

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

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, February 9th. RB Global’s dividend payout ratio is 60.78%.

Analysts Set New Price Targets

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

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. The trade was a 16.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.32% of the stock is currently owned by corporate insiders.

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.