4,800 Shares in RB Global, Inc. $RBA Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,800 shares of the business services provider’s stock, valued at approximately $510,000.

Several other institutional investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of RB Global by 3.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider’s stock valued at $1,027,191,000 after purchasing an additional 352,530 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of RB Global by 17.3% in the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock valued at $379,150,000 after acquiring an additional 557,407 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of RB Global by 26.9% in the 1st quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider’s stock worth $244,360,000 after purchasing an additional 516,865 shares during the period. Wellington Management Group LLP raised its position in RB Global by 1.1% in the 1st quarter. Wellington Management Group LLP now owns 1,854,476 shares of the business services provider’s stock worth $186,098,000 after purchasing an additional 19,543 shares during the period. Finally, Alyeska Investment Group L.P. lifted its stake in shares of RB Global by 44.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider’s stock worth $151,331,000 after acquiring an additional 463,844 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on RBA. CIBC increased their price objective on RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. National Bankshares cut their price objective on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Royal Bank Of Canada increased their target price on RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Raymond James Financial boosted their price target on RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Bank of America cut their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.57.

RB Global Stock Performance

Shares of RBA stock opened at $96.28 on Friday. The company has a market capitalization of $17.88 billion, a P/E ratio of 47.66, a P/E/G ratio of 2.48 and a beta of 0.66. The business’s 50 day moving average is $107.95 and its two-hundred day moving average is $107.51. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a 12-month low of $85.55 and a 12-month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, November 26th. RB Global’s dividend payout ratio (DPR) is presently 61.39%.

Insider Buying and Selling

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.28% 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.