RB Global, Inc. $RBA Holdings Raised by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ grew its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 20.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,034 shares of the business services provider’s stock after buying an additional 7,507 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in RB Global were worth $4,771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RBA. Vanguard Group Inc. raised its holdings in RB Global by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock worth $2,744,455,000 after purchasing an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in RB Global by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after acquiring an additional 705,423 shares during the period. Vontobel Holding Ltd. raised its position in RB Global by 10.3% in the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after acquiring an additional 672,450 shares in the last quarter. Geode Capital Management LLC lifted its holdings in RB Global by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock valued at $482,383,000 after acquiring an additional 317,781 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in shares of RB Global by 4.9% during the 3rd quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock valued at $440,353,000 after purchasing an additional 190,408 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value 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 approximately $12,370,435. The trade was a 16.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RBA shares. Raymond James Financial raised their target price on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c+)” rating on shares of RB Global in a report on Thursday, January 22nd. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a report on Monday, November 24th. Finally, BMO Capital Markets lifted their price target on RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.29.

RB Global Stock Performance

Shares of RBA opened at $96.88 on Wednesday. The company’s 50 day moving average price is $109.03 and its 200 day moving average price is $107.47. RB Global, Inc. has a 52 week low of $87.87 and a 52 week high of $119.58. The company has a market capitalization of $18.01 billion, a PE ratio of 47.49, a PEG ratio of 1.49 and a beta of 0.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.95 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, February 9th. RB Global’s dividend payout ratio is presently 60.78%.

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.