Havemeyer Place LP Makes New $536,000 Investment in RB Global, Inc. $RBA

Havemeyer Place LP acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 5,208 shares of the business services provider’s stock, valued at approximately $536,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RBA. AQR Capital Management LLC increased its position in shares of RB Global by 94.3% during the first quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after acquiring an additional 5,090 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after acquiring an additional 204 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of RB Global by 857.9% during the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after acquiring an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of RB Global by 35.6% during the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after acquiring an additional 88,813 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of RB Global during the first quarter worth about $4,103,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RBA shares. Royal Bank Of Canada lifted their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Stephens reaffirmed an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Barclays started coverage on RB Global in a research report on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.13.

Insider Activity at RB Global

In related news, Director Deborah Stein bought 425 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the acquisition, the director owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

RB Global Stock Up 1.4%

Shares of RB Global stock opened at $106.02 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The firm has a market cap of $19.71 billion, a P/E ratio of 49.31, a P/E/G ratio of 1.66 and a beta of 0.57. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The business has a 50-day moving average price of $103.13 and a 200 day moving average price of $104.17.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.RB Global’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. On average, sell-side analysts forecast that RB Global, Inc. will post 4.09 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 27th. RB Global’s payout ratio is currently 57.67%.

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.