Vanguard Personalized Indexing Management LLC Grows Stock Position in RB Global, Inc. (NYSE:RBA)

Vanguard Personalized Indexing Management LLC increased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,342 shares of the business services provider’s stock after buying an additional 382 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in RB Global were worth $635,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vontobel Asset Management Inc. raised its position in RB Global by 66.5% in the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after acquiring an additional 2,655,388 shares during the period. Vanguard Group Inc. increased its stake in shares of RB Global by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after purchasing an additional 1,153,497 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in RB Global by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after purchasing an additional 787,042 shares during the period. CIBC Asset Management Inc lifted its position in RB Global by 1,879.0% during the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after purchasing an additional 594,941 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in RB Global by 3,387.9% during the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after purchasing an additional 594,199 shares during the period. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Performance

NYSE:RBA opened at $82.12 on Thursday. The company has a market cap of $15.02 billion, a price-to-earnings ratio of 49.47, a PEG ratio of 5.39 and a beta of 0.93. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45. The stock’s 50 day simple moving average is $82.02 and its two-hundred day simple moving average is $77.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. RB Global’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. As a group, equities analysts anticipate that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were paid a dividend of $0.29 per share. This is a boost from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.41%. The ex-dividend date was Wednesday, August 28th. RB Global’s payout ratio is presently 69.88%.

Insider Activity

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other RB Global news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at $7,166,263.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, 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. Insiders sold 44,601 shares of company stock valued at $3,720,043 in the last ninety days. Insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on RBA. Robert W. Baird raised their price objective on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets began coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price on the stock. Royal Bank of Canada upped their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Raymond James raised their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, CIBC initiated coverage on shares of RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.