Forsta AP Fonden Grows Holdings in RB Global, Inc. $RBA

Forsta AP Fonden lifted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,900 shares of the business services provider’s stock after acquiring an additional 600 shares during the quarter. Forsta AP Fonden’s holdings in RB Global were worth $4,230,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its stake in RB Global by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock worth $106,000 after purchasing an additional 104 shares in the last quarter. Cerity Partners LLC lifted its stake in RB Global by 5.8% during the 1st quarter. Cerity Partners LLC now owns 6,363 shares of the business services provider’s stock worth $638,000 after acquiring an additional 351 shares in the last quarter. CWM LLC boosted its holdings in RB Global by 7.9% during the 1st quarter. CWM LLC now owns 1,974 shares of the business services provider’s stock valued at $198,000 after acquiring an additional 144 shares during the period. Sigma Planning Corp acquired a new position in RB Global in the 1st quarter valued at about $365,000. Finally, Archer Investment Corp purchased a new stake in RB Global during the first quarter worth about $166,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE RBA opened at $101.55 on Friday. The stock’s 50-day simple moving average is $106.25 and its 200-day simple moving average is $107.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. The firm has a market capitalization of $18.86 billion, a PE ratio of 50.27, a price-to-earnings-growth ratio of 2.48 and a beta of 0.65. RB Global, Inc. has a fifty-two week low of $86.68 and a fifty-two week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th. RB Global’s dividend payout ratio is currently 59.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RBA. BMO Capital Markets lifted their price objective on shares of RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Raymond James Financial upped their price objective on RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Bank of America lowered their target price on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Royal Bank Of Canada increased their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.71.

Insider Buying and Selling at RB Global

In other news, Director Deborah Stein acquired 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $101.26 per share, with a total value of $101,260.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at $101,260. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The SEC filing for this sale provides additional information. Corporate insiders own 4.32% of the company’s stock.

RB Global 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.