Manchester Financial Inc. Makes New Investment in RB Global, Inc. $RBA

Manchester Financial Inc. bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,545 shares of the business services provider’s stock, valued at approximately $1,684,000.

A number of other institutional investors and hedge funds have also modified their holdings of RBA. Norges Bank acquired a new position in RB Global in the second quarter valued at approximately $255,798,000. Samlyn Capital LLC bought a new stake in shares of RB Global during the 1st quarter valued at $118,821,000. Third Point LLC acquired a new position in shares of RB Global in the 1st quarter valued at $95,285,000. Vontobel Holding Ltd. boosted its position in shares of RB Global by 10.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after purchasing an additional 672,450 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in shares of RB Global by 44.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider’s stock worth $151,331,000 after purchasing an additional 463,844 shares during the period. 95.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was bought at an average cost of $101.26 per share, with a total value of $101,260.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at $101,260. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.28% of the stock is currently owned by company insiders.

RB Global Trading Down 0.4%

RBA opened at $105.32 on Wednesday. The stock has a market capitalization of $19.58 billion, a P/E ratio of 50.39, a P/E/G ratio of 2.30 and a beta of 0.56. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a 12 month low of $86.68 and a 12 month high of $119.58. The firm’s fifty day simple moving average is $100.27 and its 200 day simple moving average is $106.79.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. RB Global’s dividend payout ratio is 59.33%.

Analyst Ratings Changes

Several equities analysts have weighed in on RBA shares. Royal Bank Of Canada increased their target price on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings cut shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Bank of America lowered their target price on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. National Bankshares reduced their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 9th. Finally, Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus price target of $122.88.

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.