RB Global, Inc. $RBA Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 223.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 257,661 shares of the business services provider’s stock after buying an additional 177,895 shares during the quarter. Intech Investment Management LLC’s holdings in RB Global were worth $26,548,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock worth $513,930,000 after buying an additional 250,887 shares during the period. 12th Street Asset Management Company LLC grew its stake in RB Global by 86.4% during the fourth quarter. 12th Street Asset Management Company LLC now owns 220,127 shares of the business services provider’s stock worth $22,644,000 after buying an additional 102,004 shares during the period. Clearstead Advisors LLC grew its stake in RB Global by 29.3% during the fourth quarter. Clearstead Advisors LLC now owns 1,072 shares of the business services provider’s stock worth $110,000 after buying an additional 243 shares during the period. Legal & General Group Plc grew its stake in RB Global by 3.0% during the fourth quarter. Legal & General Group Plc now owns 1,007,640 shares of the business services provider’s stock worth $103,845,000 after buying an additional 29,368 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in RB Global by 81.8% during the fourth quarter. Hantz Financial Services Inc. now owns 2,859 shares of the business services provider’s stock worth $294,000 after buying an additional 1,286 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RBA has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of RB Global in a research note on Tuesday. Stephens reiterated an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. Barclays initiated coverage on shares of RB Global in a research note on Thursday. They set an “overweight” rating and a $124.00 price objective for the company. Royal Bank Of Canada boosted their price objective on shares of RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.13.

RB Global Trading Up 1.9%

NYSE RBA opened at $105.87 on Friday. The company’s fifty day simple moving average is $101.79 and its 200-day simple moving average is $103.89. RB Global, Inc. has a 52 week low of $93.58 and a 52 week high of $119.58. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. The stock has a market cap of $19.68 billion, a P/E ratio of 49.24, a PEG ratio of 1.66 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts predict that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 27th. RB Global’s payout ratio is presently 57.67%.

Insider Activity at RB Global

In other news, Director Deborah Stein bought 425 shares of RB Global stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

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.