Stephens Inc. AR Buys 15,373 Shares of RB Global, Inc. $RBA

Stephens Inc. AR boosted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 534.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,248 shares of the business services provider’s stock after purchasing an additional 15,373 shares during the quarter. Stephens Inc. AR’s holdings in RB Global were worth $1,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in RB Global by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock worth $1,120,479,000 after buying an additional 165,260 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in shares of RB Global by 11.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock valued at $792,934,000 after buying an additional 821,319 shares in the last quarter. State Street Corp raised its position in shares of RB Global by 1.7% in the 4th quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock valued at $647,118,000 after buying an additional 104,286 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of RB Global by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock worth $513,930,000 after acquiring an additional 250,887 shares during the period. Finally, Fiera Capital Corp lifted its holdings in shares of RB Global by 2.2% during the 4th quarter. Fiera Capital Corp now owns 4,157,985 shares of the business services provider’s stock worth $428,223,000 after acquiring an additional 90,982 shares during the period. Institutional investors own 95.37% of the company’s stock.

Insider Transactions at RB Global

In other news, Director Deborah Stein bought 425 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by insiders.

RB Global Price Performance

Shares of NYSE:RBA opened at $111.41 on Friday. The company has a market cap of $20.71 billion, a price-to-earnings ratio of 51.82, a PEG ratio of 1.74 and a beta of 0.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $107.37 and a 200 day simple moving average of $105.91. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58.

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 for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. The firm had revenue of $888.01 million for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Research analysts predict that RB Global, Inc. will post 4.16 earnings per share for the current fiscal year.

RB Global Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on RBA shares. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. Stephens restated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Zacks Research raised RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Royal Bank Of Canada lifted 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. Finally, Barclays started coverage on RB Global in a report on Thursday, May 28th. They set an “overweight” rating and a $124.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, RB Global presently has an average rating of “Buy” and an average target price of $126.12.

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.