Deutsche Bank AG Raises Stake in RB Global, Inc. (NYSE:RBA)

Deutsche Bank AG increased its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,057 shares of the business services provider’s stock after purchasing an additional 10,393 shares during the quarter. Deutsche Bank AG owned 0.13% of RB Global worth $22,197,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in RB Global during the fourth quarter worth about $266,148,000. Norges Bank purchased a new position in RB Global in the 4th quarter valued at approximately $209,931,000. FMR LLC raised its holdings in RB Global by 137.5% during the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock worth $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after purchasing an additional 753,700 shares during the last quarter. Finally, FIL Ltd grew its holdings in RB Global by 26.4% in the fourth quarter. FIL Ltd now owns 2,030,696 shares of the business services provider’s stock valued at $183,189,000 after purchasing an additional 424,060 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RBA shares. Royal Bank of Canada lifted their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. National Bankshares reduced their price target on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Raymond James raised their price objective on shares of RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. BMO Capital Markets lifted their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird increased their target price on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.50.

RB Global Stock Performance

Shares of RBA opened at $105.61 on Thursday. RB Global, Inc. has a 1 year low of $70.27 and a 1 year high of $107.99. The company’s 50 day simple moving average is $98.60 and its 200 day simple moving average is $95.20. The company has a market capitalization of $19.55 billion, a price-to-earnings ratio of 52.54, a PEG ratio of 4.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. On average, sell-side analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, May 29th. RB Global’s payout ratio is 57.14%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now owns 20,267 shares of the company’s stock, valued at $1,983,125.95. The trade was a 27.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,397 shares of company stock worth $2,703,491 in the last 90 days. 4.32% of the stock is owned by company insiders.

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.