Rhumbline Advisers Buys 276,843 Shares of RB Global, Inc. (NYSE:RBA)

Rhumbline Advisers increased its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 135.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 480,801 shares of the business services provider’s stock after acquiring an additional 276,843 shares during the period. Rhumbline Advisers’ holdings in RB Global were worth $36,714,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brevan Howard Capital Management LP bought a new stake in RB Global during the fourth quarter worth about $2,009,000. Intech Investment Management LLC acquired a new stake in shares of RB Global in the first quarter valued at approximately $613,000. Charles Schwab Investment Management Inc. lifted its position in shares of RB Global by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,030,810 shares of the business services provider’s stock valued at $68,951,000 after buying an additional 24,684 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of RB Global by 25.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock valued at $27,927,000 after buying an additional 74,809 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in shares of RB Global by 3.9% in the fourth quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock valued at $40,567,000 after buying an additional 22,636 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 3,637 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $80.66, for a total transaction of $293,360.42. Following the transaction, the insider now owns 17,279 shares in the company, valued at approximately $1,393,724.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CRO James J. Jeter sold 3,000 shares of RB Global stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the transaction, the executive now owns 20,267 shares in the company, valued at approximately $1,733,841.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Darren Jeffrey Watt sold 3,637 shares of RB Global stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total value of $293,360.42. Following the completion of the transaction, the insider now owns 17,279 shares in the company, valued at approximately $1,393,724.14. The disclosure for this sale can be found here. Insiders have sold a total of 20,472 shares of company stock worth $1,669,216 in the last 90 days. Company insiders own 4.32% of the company’s stock.

RB Global Price Performance

Shares of NYSE RBA opened at $83.77 on Friday. The firm has a market cap of $15.43 billion, a P/E ratio of 50.46, a price-to-earnings-growth ratio of 5.50 and a beta of 0.93. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. RB Global, Inc. has a 1-year low of $58.85 and a 1-year high of $87.45. The business’s 50 day moving average is $80.28 and its 200-day moving average is $76.84.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned $0.42 EPS. The company’s revenue was down .9% on a year-over-year basis. Equities research analysts predict that RB Global, Inc. will post 1.96 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Wednesday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is 69.88%.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets initiated coverage on RB Global in a research report on Thursday. They issued an “outperform” rating and a $105.00 price objective for the company. CIBC initiated coverage on RB Global in a research report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective for the company. Robert W. Baird raised their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Bank of America increased their target price on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average price target of $92.19.

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.