Andra AP fonden Takes $144,000 Position in RB Global, Inc. (NYSE:RBA)

Andra AP fonden acquired a new stake in shares of RB Global, Inc. (NYSE:RBAFree Report) (TSE:RBA) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,300 shares of the business services provider’s stock, valued at approximately $144,000.

A number of other large investors have also added to or reduced their stakes in the stock. Independent Franchise Partners LLP increased its holdings in shares of RB Global by 8.3% during the second quarter. Independent Franchise Partners LLP now owns 16,078,138 shares of the business services provider’s stock valued at $964,688,000 after acquiring an additional 1,227,053 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in RB Global by 10.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock valued at $645,007,000 after purchasing an additional 977,171 shares in the last quarter. Beutel Goodman & Co Ltd. raised its holdings in RB Global by 20.4% in the second quarter. Beutel Goodman & Co Ltd. now owns 6,924,820 shares of the business services provider’s stock worth $416,038,000 after buying an additional 1,172,169 shares during the last quarter. BlackRock Inc. lifted its stake in shares of RB Global by 286.9% in the second quarter. BlackRock Inc. now owns 6,479,856 shares of the business services provider’s stock worth $388,791,000 after buying an additional 4,804,923 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of RB Global by 19.2% during the first quarter. Invesco Ltd. now owns 4,652,139 shares of the business services provider’s stock valued at $274,617,000 after buying an additional 747,804 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 3,750 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $64.84, for a total value of $243,150.00. Following the completion of the sale, the executive now directly owns 23,140 shares of the company’s stock, valued at $1,500,397.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CRO James J. Jeter sold 3,750 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $64.84, for a total value of $243,150.00. Following the completion of the transaction, the executive now owns 23,140 shares of the company’s stock, valued at approximately $1,500,397.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Fandozzi sold 238,368 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $62.19, for a total value of $14,824,105.92. The disclosure for this sale can be found here. Insiders sold a total of 243,212 shares of company stock worth $15,139,394 over the last three months. 4.32% of the stock is currently owned by company insiders.

RB Global Stock Performance

NYSE:RBA opened at $68.64 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.18 and a current ratio of 1.31. The stock has a 50-day simple moving average of $64.82 and a two-hundred day simple moving average of $63.51. The firm has a market capitalization of $12.53 billion, a PE ratio of 81.71, a P/E/G ratio of 5.15 and a beta of 0.83. RB Global, Inc. has a 52-week low of $51.07 and a 52-week high of $69.01.

RB Global (NYSE:RBAGet Free Report) (TSE:RBA) last posted its quarterly earnings data on Thursday, November 9th. The business services provider reported $0.30 earnings per share 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 return on equity of 4.19% and a net margin of 5.43%. Analysts forecast that RB Global, Inc. will post 0.94 EPS for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, February 8th. RB Global’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

A number of research firms have commented on RBA. Scotiabank lifted their target price on RB Global from $74.00 to $76.00 and gave the stock a “sector outperform” rating in a report on Tuesday, February 6th. StockNews.com upgraded RB Global from a “sell” rating to a “hold” rating in a report on Friday. National Bankshares upped their target price 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. Finally, Royal Bank of Canada dropped their price target on shares of RB Global from $75.00 to $73.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average price target of $71.83.

Read Our Latest Stock Analysis on RB Global

RB Global Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for RB Global (NYSE:RBA)

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