Quantinno Capital Management LP Raises Stock Position in RB Global, Inc. $RBA

Quantinno Capital Management LP lifted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 88.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,885 shares of the business services provider’s stock after purchasing an additional 62,660 shares during the quarter. Quantinno Capital Management LP’s holdings in RB Global were worth $12,833,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MV Capital Management Inc. acquired a new position in shares of RB Global in the fourth quarter valued at approximately $29,000. Bayban acquired a new stake in RB Global during the 4th quarter worth approximately $34,000. State of Wyoming acquired a new stake in RB Global during the 2nd quarter worth approximately $46,000. Cassaday & Co Wealth Management LLC purchased a new position in RB Global in the 1st quarter valued at approximately $43,000. Finally, Nemes Rush Group LLC acquired a new position in shares of RB Global in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

RBA has been the topic of a number of recent research reports. National Bank Financial upped their price objective on RB Global from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price for the company in a research note on Tuesday, June 30th. Stephens restated an “equal weight” rating and set a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Royal Bank Of Canada increased their price target on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, RB Global has an average rating of “Buy” and an average price target of $127.57.

Insider Activity at RB Global

In related news, Director Deborah Stein bought 425 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $103.15 per share, with a total value of $43,838.75. Following the transaction, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

RB Global Stock Performance

Shares of RBA opened at $112.35 on Tuesday. The stock has a 50 day moving average price of $109.97 and a 200 day moving average price of $106.56. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 52.26, a price-to-earnings-growth ratio of 2.24 and a beta of 0.56. RB Global, Inc. has a 52-week low of $93.58 and a 52-week 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 analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company had revenue of $888.01 million for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned $0.89 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts predict that RB Global, Inc. will post 4.16 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is currently 57.67%.

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.