Forsta AP Fonden Sells 7,700 Shares of RB Global, Inc. (NYSE:RBA)

Forsta AP Fonden trimmed its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,300 shares of the business services provider’s stock after selling 7,700 shares during the period. Forsta AP Fonden’s holdings in RB Global were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RBA. Vanguard Group Inc. raised its stake in RB Global by 5.1% during the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after purchasing an additional 1,153,497 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in shares of RB Global by 1.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock valued at $652,590,000 after buying an additional 114,225 shares in the last quarter. Vontobel Asset Management Inc. lifted its holdings in shares of RB Global by 66.5% in the 4th quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock valued at $467,920,000 after acquiring an additional 2,655,388 shares during the last quarter. Cooke & Bieler LP grew its position in RB Global by 3.4% in the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock worth $252,865,000 after acquiring an additional 109,056 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in RB Global by 5.7% during the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after acquiring an additional 168,945 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BMO Capital Markets started coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 target price for the company. CIBC began coverage on shares of RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Bank of America upped their price target on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Robert W. Baird raised their price objective on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global Stock Up 0.2 %

Shares of NYSE:RBA opened at $85.10 on Monday. The business’s 50 day moving average is $81.17 and its 200 day moving average is $77.40. The stock has a market cap of $15.56 billion, a P/E ratio of 51.27, a price-to-earnings-growth ratio of 5.41 and a beta of 0.93. RB Global, Inc. has a 52-week low of $58.85 and a 52-week high of $87.45. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The business’s revenue was down .9% compared to the same quarter last year. Sell-side analysts predict that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.36%. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s payout ratio is currently 69.88%.

Insider Transactions at RB Global

In related news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the sale, the executive now directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,718 shares of company stock valued at $2,861,754. Company insiders own 4.32% of the company’s stock.

RB Global Company 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.