Riverbridge Partners LLC Sells 225,982 Shares of RB Global, Inc. $RBA

Riverbridge Partners LLC lessened its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 15.1% during the 1st quarter, Holdings Channel reports. The firm owned 1,275,384 shares of the business services provider’s stock after selling 225,982 shares during the period. RB Global makes up approximately 3.0% of Riverbridge Partners LLC’s portfolio, making the stock its 4th biggest position. Riverbridge Partners LLC’s holdings in RB Global were worth $122,246,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RBA. MV Capital Management Inc. acquired a new position in RB Global in the fourth quarter valued at approximately $29,000. Bayban acquired a new stake in RB Global during the 4th quarter worth $34,000. Central Pacific Bank Trust Division raised its position in shares of RB Global by 41.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 107 shares during the last quarter. State of Wyoming bought a new stake in shares of RB Global during the 2nd quarter valued at $46,000. Finally, Nemes Rush Group LLC bought a new stake in shares of RB Global during the 4th quarter valued at $54,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RB Global stock opened at $108.49 on Wednesday. The company has a market capitalization of $20.17 billion, a PE ratio of 50.46, a PEG ratio of 1.73 and a beta of 0.57. RB Global, Inc. has a 12 month low of $93.58 and a 12 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. The stock’s fifty day simple moving average is $105.22 and its 200 day simple moving average is $104.96.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. On average, research analysts predict that RB Global, Inc. will post 4.09 EPS for the current year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s payout ratio is 57.67%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays started coverage on RB Global in a research report on Thursday, May 28th. They issued an “overweight” rating and a $124.00 price target on the stock. Stephens reiterated an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. BMO Capital Markets restated an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada upped their price target on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.12.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein acquired 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

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.