Havemeyer Place LP Takes $536,000 Position in RB Global, Inc. $RBA

Havemeyer Place LP acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,208 shares of the business services provider’s stock, valued at approximately $536,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RBA. Central Pacific Bank Trust Division grew its position in shares of RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 107 shares during the period. State of Wyoming purchased a new stake in shares of RB Global in the second quarter valued at $46,000. Geneos Wealth Management Inc. grew its position in shares of 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 purchasing an additional 97 shares during the period. NewEdge Advisors LLC grew its position in shares of RB Global by 53.1% in the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 204 shares during the period. Finally, Merrithew & Thorsten Inc purchased a new stake in shares of RB Global in the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RBA shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Barclays started coverage on RB Global in a report on Thursday, May 28th. They issued an “overweight” rating and a $124.00 target price on the stock. Stephens reiterated an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada lifted their target price on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.13.

Insider Activity at RB Global

In related news, Director Deborah Stein acquired 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the purchase, the director directly owned 1,825 shares in the company, valued at $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

RB Global Price Performance

Shares of RB Global stock opened at $106.02 on Wednesday. RB Global, Inc. has a twelve month low of $93.58 and a twelve month high of $119.58. The stock has a market capitalization of $19.71 billion, a P/E ratio of 49.31, a PEG ratio of 1.66 and a beta of 0.57. 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 business’s fifty day moving average price is $103.13 and its 200 day moving average price is $104.17.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data 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. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, research analysts anticipate that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be paid 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 is Wednesday, May 27th. RB Global’s payout ratio is currently 57.67%.

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.