Boston Partners Raises Stock Position in RB Global, Inc. (NYSE:RBA)

Boston Partners increased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,509,549 shares of the business services provider’s stock after acquiring an additional 17,343 shares during the quarter. Boston Partners owned approximately 1.93% of RB Global worth $210,395,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RBA. Independent Franchise Partners LLP increased its holdings in shares of RB Global by 203.8% in the 1st quarter. Independent Franchise Partners LLP now owns 14,851,085 shares of the business services provider’s stock valued at $835,968,000 after acquiring an additional 9,962,297 shares during the period. Cooke & Bieler LP acquired a new position in shares of RB Global in the 1st quarter valued at $197,481,000. Bank of Montreal Can acquired a new position in shares of RB Global in the 2nd quarter valued at $124,851,000. Luxor Capital Group LP increased its holdings in shares of RB Global by 95.9% in the 4th quarter. Luxor Capital Group LP now owns 4,209,222 shares of the business services provider’s stock valued at $243,419,000 after acquiring an additional 2,060,511 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of RB Global by 1,638.0% in the 1st quarter. BlackRock Inc. now owns 1,674,933 shares of the business services provider’s stock valued at $94,282,000 after acquiring an additional 1,578,560 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Performance

Shares of RBA opened at $61.46 on Friday. The company has a 50-day simple moving average of $64.31 and a 200-day simple moving average of $60.45. The company has a quick ratio of 1.18, a current ratio of 1.31 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $11.20 billion, a PE ratio of 73.17, a P/E/G ratio of 13.01 and a beta of 0.89. RB Global, Inc. has a 52-week low of $51.07 and a 52-week high of $68.25.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, November 9th. The business services provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $939.92 million. RB Global had a net margin of 5.43% and a return on equity of 4.19%. Equities research analysts predict that RB Global, Inc. will post 0.65 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, December 21st. Investors of record on Thursday, November 30th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.76%. RB Global’s payout ratio is 128.57%.

Insider Activity at RB Global

In other news, CEO James Francis Kessler purchased 1,250 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were bought at an average cost of $60.06 per share, with a total value of $75,075.00. Following the purchase, the chief executive officer now directly owns 64,261 shares of the company’s stock, valued at $3,859,515.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Timothy J. O’day purchased 1,500 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were bought at an average cost of $65.52 per share, with a total value of $98,280.00. Following the purchase, the director now directly owns 1,500 shares of the company’s stock, valued at $98,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler purchased 1,250 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of $60.06 per share, for a total transaction of $75,075.00. Following the completion of the purchase, the chief executive officer now directly owns 64,261 shares in the company, valued at $3,859,515.66. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 4,750 shares of company stock valued at $293,135. Insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RBA. National Bankshares boosted their price objective on shares of RB Global from $71.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Royal Bank of Canada dropped their price objective on shares of RB Global from $75.00 to $73.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Raymond James raised shares of RB Global from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $60.00 to $75.00 in a research note on Thursday, July 20th. Finally, Scotiabank dropped their price objective on shares of RB Global from $76.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $71.50.

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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.