Sterling Capital Management LLC Has $570,000 Position in RB Global, Inc. $RBA

Sterling Capital Management LLC lessened its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 42.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,952 shares of the business services provider’s stock after selling 4,450 shares during the quarter. Sterling Capital Management LLC’s holdings in RB Global were worth $570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RBA. MV Capital Management Inc. bought a new stake in RB Global in the fourth quarter worth $29,000. Bayban bought a new stake in shares of RB Global in the 4th quarter worth approximately $34,000. Central Pacific Bank Trust Division boosted 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 in the last quarter. State of Wyoming bought a new stake in shares of RB Global in the 2nd quarter worth about $46,000. Finally, Nemes Rush Group LLC bought a new position in shares of RB Global in the fourth quarter valued at approximately $54,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Deborah Stein acquired 425 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the purchase, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on RBA. 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 research note on Tuesday, May 5th. Barclays assumed coverage on RB Global in a report on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. Raymond James Financial upgraded shares of 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. Finally, Stephens reaffirmed an “equal weight” rating and set a $96.00 price target on shares of RB Global in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $126.12.

RB Global Stock Performance

RBA stock opened at $112.72 on Friday. The stock has a 50-day moving average price of $106.69 and a 200-day moving average price of $105.61. The firm has a market cap of $20.96 billion, a PE ratio of 52.43, a price-to-earnings-growth ratio of 1.77 and a beta of 0.55. 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, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. The firm had revenue of $888.01 million for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 earnings per share. As a group, equities research analysts expect that RB Global, Inc. will post 4.17 earnings per share for the current year.

RB Global Dividend Announcement

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

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.