Gotham Asset Management LLC Buys 57,952 Shares of RB Global, Inc. $RBA

Gotham Asset Management LLC boosted its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 274,963 shares of the business services provider’s stock after purchasing an additional 57,952 shares during the period. Gotham Asset Management LLC owned 0.15% of RB Global worth $29,795,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Spire Wealth Management grew its stake in shares of RB Global by 1,090.6% in the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock valued at $41,000 after buying an additional 349 shares in the last quarter. State of Wyoming acquired a new stake in RB Global in the second quarter valued at $46,000. Geneos Wealth Management Inc. lifted its stake in RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 204 shares during the period. Finally, MAI Capital Management increased its stake in shares of RB Global by 27.9% during the 2nd quarter. MAI Capital Management now owns 655 shares of the business services provider’s stock worth $70,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

NYSE:RBA opened at $99.02 on Tuesday. The stock has a 50 day simple moving average of $108.22 and a 200 day simple moving average of $106.06. The stock has a market cap of $18.41 billion, a P/E ratio of 48.54, a PEG ratio of 1.50 and a beta of 0.57. RB Global, Inc. has a 1-year low of $87.87 and a 1-year high of $119.58. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were paid a $0.31 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.24 annualized dividend and a yield of 1.3%. RB Global’s payout ratio is 60.78%.

Analyst Ratings Changes

RBA has been the subject of several recent analyst reports. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a research note on Monday, November 24th. BMO Capital Markets raised their price objective on RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada boosted their target price on RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Raymond James Financial increased their price target on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $129.29.

Insider Transactions at RB Global

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.28% of the stock is owned by corporate insiders.

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.