Dundas Partners LLP Buys 3,195 Shares of RB Global, Inc. $RBA

Dundas Partners LLP boosted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,184 shares of the business services provider’s stock after purchasing an additional 3,195 shares during the quarter. Dundas Partners LLP owned about 0.05% of RB Global worth $10,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cidel Asset Management Inc. boosted its stake in shares of RB Global by 1.8% in the 2nd quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after purchasing an additional 11,881 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new position in RB Global during the 2nd quarter valued at approximately $19,717,000. Voya Investment Management LLC lifted its holdings in RB Global by 12.8% in the 1st quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock worth $3,389,000 after buying an additional 3,847 shares during the period. Kathmere Capital Management LLC bought a new stake in shares of RB Global in the 2nd quarter worth approximately $476,000. Finally, Wilson Asset Management International PTY Ltd. increased its stake in shares of RB Global by 9.5% during the second quarter. Wilson Asset Management International PTY Ltd. now owns 159,402 shares of the business services provider’s stock valued at $16,927,000 after buying an additional 13,814 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 0.1%

NYSE:RBA opened at $96.16 on Friday. The firm has a market capitalization of $17.86 billion, a P/E ratio of 47.60, a PEG ratio of 2.48 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global, Inc. has a one year low of $86.68 and a one year high of $119.58. The company’s 50-day simple moving average is $104.30 and its 200 day simple moving average is $107.51.

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

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. RB Global’s dividend payout ratio (DPR) is presently 59.33%.

Insider Activity

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 value of $254,140.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deborah Stein purchased 1,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at approximately $101,260. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 4.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RBA shares. BMO Capital Markets lifted their price target 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. Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Raymond James Financial raised their price objective on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Bank of America reduced their target price on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.71.

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.