Russell Investments Group Ltd. Purchases 8,675 Shares of RB Global, Inc. $RBA

Russell Investments Group Ltd. boosted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,717 shares of the business services provider’s stock after acquiring an additional 8,675 shares during the period. Russell Investments Group Ltd.’s holdings in RB Global were worth $6,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp bought a new position in RB Global during the first quarter valued at about $26,000. CoreCap Advisors LLC grew its stake in shares of RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the period. MV Capital Management Inc. grew its stake in shares of RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 278 shares during the period. IFP Advisors Inc grew its stake in shares of RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 279 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of RB Global by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 104 shares during the period. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Up 0.2%

Shares of RBA opened at $115.1390 on Thursday. The business’s 50 day simple moving average is $108.81 and its 200-day simple moving average is $103.02. RB Global, Inc. has a one year low of $78.08 and a one year high of $118.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. The company has a market capitalization of $21.36 billion, a P/E ratio of 57.00, a PEG ratio of 2.67 and a beta of 0.75.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be paid a $0.31 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global’s dividend payout ratio (DPR) is currently 57.43%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RBA. National Bankshares upped their price objective on RB Global from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada upped their price objective on RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Robert W. Baird upped their price objective on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. CIBC upped their price objective on RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research note on Friday, July 18th. Finally, BMO Capital Markets upped their price objective on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.79.

Insider Activity

In other news, Director Adam Dewitt sold 800 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director owned 5,865 shares of the company’s stock, valued at $622,687.05. This represents a 12.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the transaction, the insider directly owned 24,874 shares in the company, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,558 shares of company stock valued at $6,314,145 in the last 90 days. 4.32% of the stock is owned by company 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.