iSAM Funds UK Ltd Takes $1.55 Million Position in RB Global, Inc. $RBA

iSAM Funds UK Ltd purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 14,293 shares of the business services provider’s stock, valued at approximately $1,549,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Spire Wealth Management boosted its position in RB Global by 1,090.6% during the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 349 shares in the last quarter. State of Wyoming bought a new position in RB Global in the second quarter worth about $46,000. Geneos Wealth Management Inc. raised its holdings 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 worth $54,000 after purchasing an additional 97 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after buying an additional 204 shares during the last quarter. Finally, MAI Capital Management lifted its position in shares of RB Global by 27.9% during the second quarter. MAI Capital Management now owns 655 shares of the business services provider’s stock valued at $70,000 after buying an additional 143 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares of the company’s stock, valued at $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.32% of the stock is owned by company insiders.

RB Global Price Performance

NYSE RBA opened at $98.66 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02. The stock’s fifty day moving average price is $108.33 and its 200 day moving average price is $106.31. RB Global, Inc. has a 1 year low of $87.87 and a 1 year high of $119.58. The company has a market cap of $18.34 billion, a price-to-earnings ratio of 48.36, a PEG ratio of 1.49 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping 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 company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.