Dimensional Fund Advisors LP Grows Position in RB Global, Inc. $RBA

Dimensional Fund Advisors LP increased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 785,618 shares of the business services provider’s stock after purchasing an additional 57,870 shares during the quarter. Dimensional Fund Advisors LP’s holdings in RB Global were worth $75,297,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RBA. MV Capital Management Inc. purchased a new position in RB Global during the fourth quarter worth about $29,000. Bayban purchased a new stake in shares of RB Global in the 4th quarter valued at approximately $34,000. State of Wyoming purchased a new stake in shares of RB Global in the 2nd quarter valued at approximately $46,000. Nemes Rush Group LLC acquired a new position in shares of RB Global in the 4th quarter worth approximately $54,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after acquiring an additional 97 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of RBA opened at $109.75 on Friday. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of 51.05, a PEG ratio of 2.25 and a beta of 0.55. The firm’s fifty day simple moving average is $109.81 and its 200-day simple moving average is $106.58. RB Global, Inc. has a twelve month low of $93.58 and a twelve month 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.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. The company had revenue of $888.01 million 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%.RB Global’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. Equities analysts forecast that RB Global, Inc. will post 4.16 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. RB Global’s dividend payout ratio is 57.67%.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada raised their price target on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $127.57.

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.