RB Global, Inc. $RBA Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.0% during the first quarter, Holdings Channel reports. The institutional investor owned 4,371,610 shares of the business services provider’s stock after buying an additional 285,713 shares during the quarter. Janus Henderson Group PLC’s holdings in RB Global were worth $418,876,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in RB Global by 94.3% in 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% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 204 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after purchasing an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after purchasing an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of RB Global during the 1st quarter worth $4,103,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE RBA opened at $109.97 on Friday. The stock has a market cap of $20.36 billion, a P/E ratio of 51.15, a P/E/G ratio of 2.36 and a beta of 0.55. RB Global, Inc. has a twelve month low of $93.58 and a twelve month high of $119.58. The stock has a 50 day moving average of $109.72 and a two-hundred day moving average of $106.55. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. The business had revenue of $888.01 million for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. On average, research analysts forecast that RB Global, Inc. will post 4.16 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 25th. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s payout ratio is 57.67%.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein acquired 425 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the purchase, the director owned 1,825 shares in the company, valued at $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RBA shares. Zacks Research raised RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Royal Bank Of Canada increased their price objective on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. BMO Capital Markets reissued 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. Stephens restated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Finally, Barclays lowered their price target on RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $127.57.

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.