Invesco Ltd. Boosts Stock Holdings in RB Global, Inc. (NYSE:RBA)

Invesco Ltd. lifted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,919,431 shares of the business services provider’s stock after buying an additional 106,627 shares during the quarter. Invesco Ltd. owned about 1.04% of RB Global worth $173,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RBA. Raymond James Financial Inc. purchased a new stake in shares of RB Global during the fourth quarter worth $266,148,000. Norges Bank bought a new position in RB Global in the 4th quarter worth about $209,931,000. FMR LLC grew its holdings in RB Global by 137.5% during the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after buying an additional 1,623,429 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after buying an additional 358,752 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Activity

In other news, CRO James J. Jeter sold 600 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares of the company’s stock, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the transaction, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,897 shares of company stock valued at $2,338,161. Corporate insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird upped their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. CIBC dropped their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Finally, National Bankshares decreased their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.56.

RB Global Trading Up 2.4 %

NYSE RBA opened at $97.04 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $97.69 and its two-hundred day simple moving average is $92.30. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the prior year, the business posted $0.82 earnings per share. Research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.20%. RB Global’s payout ratio is 57.71%.

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.