MV Capital Management Inc. Buys 278 Shares of RB Global, Inc. (NYSE:RBA)

MV Capital Management Inc. grew its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5,560.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283 shares of the business services provider’s stock after purchasing an additional 278 shares during the quarter. MV Capital Management Inc.’s holdings in RB Global were worth $28,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of RB Global by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock worth $3,674,000 after buying an additional 113 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after acquiring an additional 117 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 129 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of RB Global by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock valued at $279,000 after acquiring an additional 137 shares in the last quarter. Finally, Claret Asset Management Corp raised its position in shares of RB Global by 1.6% in the 4th quarter. Claret Asset Management Corp now owns 10,233 shares of the business services provider’s stock worth $923,000 after purchasing an additional 163 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

RBA opened at $107.50 on Thursday. The company’s 50 day moving average is $101.79 and its 200 day moving average is $97.41. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a market cap of $19.91 billion, a price-to-earnings ratio of 53.48, a PEG ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a 12-month low of $70.38 and a 12-month high of $109.25.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS. On average, equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s payout ratio is 57.14%.

Analysts Set New Price Targets

A number of analysts have weighed in on RBA shares. National Bank Financial lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 25th. National Bankshares reduced their price target on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada upped their price objective on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets increased their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James boosted their price target on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.50.

Insider Transactions at RB Global

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. This represents a 27.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Andrew John Fesler sold 9,075 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the sale, the insider now directly owns 5,532 shares in the company, valued at approximately $579,311.04. This represents a 62.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,972 shares of company stock valued at $4,345,510 over the last quarter. 4.32% of the stock is currently owned by company insiders.

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.