Vanguard Group Inc. Acquires 191,974 Shares of RB Global, Inc. (NYSE:RBA)

Vanguard Group Inc. increased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,839,262 shares of the business services provider’s stock after purchasing an additional 191,974 shares during the period. Vanguard Group Inc. owned approximately 12.48% of RB Global worth $1,527,718,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC acquired a new position in RB Global during the third quarter valued at approximately $26,000. Oakworth Capital Inc. grew its stake in RB Global by 53.3% in the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after buying an additional 162 shares during the last quarter. GAMMA Investing LLC bought a new position in RB Global in the 4th quarter worth $54,000. Brown Brothers Harriman & Co. acquired a new position in RB Global during the 4th quarter worth $72,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its holdings in RB Global by 63.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 1,448 shares of the business services provider’s stock valued at $97,000 after acquiring an additional 562 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CRO James J. Jeter sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the transaction, the executive now owns 28,267 shares in the company, valued at approximately $2,132,179.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CRO James J. Jeter sold 14,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the sale, the executive now owns 28,267 shares in the company, valued at approximately $2,132,179.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darren Jeffrey Watt sold 3,637 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $80.66, for a total transaction of $293,360.42. Following the completion of the transaction, the insider now owns 17,279 shares in the company, valued at $1,393,724.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,867 shares of company stock worth $3,370,272. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RBA. Scotiabank lifted their price objective on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Bank of America raised their price objective on shares of RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. CIBC started coverage on shares of RB Global in a research note on Tuesday. They set a “sector outperform” rating and a $95.00 target price for the company. Finally, Raymond James raised their price target on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and a consensus target price of $84.14.

RB Global Stock Down 0.4 %

Shares of RBA stock opened at $80.07 on Thursday. RB Global, Inc. has a one year low of $55.09 and a one year high of $81.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 1.17. The stock has a fifty day moving average price of $74.66 and a 200 day moving average price of $71.10. The stock has a market cap of $14.64 billion, a P/E ratio of 48.23, a price-to-earnings-growth ratio of 5.50 and a beta of 0.88.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. RB Global had a net margin of 8.08% and a return on equity of 6.87%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Analysts predict that RB Global, Inc. will post 2.04 earnings per share for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, May 29th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, May 29th. RB Global’s payout ratio is 65.06%.

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.