Gradient Investments LLC Makes New Investment in RB Global, Inc. $RBA

Gradient Investments LLC acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,842 shares of the business services provider’s stock, valued at approximately $797,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MV Capital Management Inc. purchased a new stake in shares of RB Global during the fourth quarter worth about $29,000. Bayban purchased a new position in RB Global during the 4th quarter valued at about $34,000. State of Wyoming purchased a new position in RB Global during the 2nd quarter valued at about $46,000. Cassaday & Co Wealth Management LLC bought a new position in RB Global during the 1st quarter valued at approximately $43,000. Finally, Nemes Rush Group LLC bought a new position in RB Global during the 4th quarter valued at approximately $54,000. 95.37% of the stock is owned by institutional investors.

RB Global Stock Performance

Shares of RBA opened at $94.65 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $109.42 and its 200-day moving average price is $106.18. RB Global, Inc. has a 52 week low of $92.15 and a 52 week high of $119.58. The stock has a market cap of $17.52 billion, a P/E ratio of 40.62, a P/E/G ratio of 1.58 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. Equities research analysts anticipate that RB Global, Inc. will post 4.16 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. This is a boost from RB Global’s previous quarterly dividend of $0.31. RB Global’s payout ratio is presently 53.22%.

Analysts Set New Price Targets

RBA has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. National Bank Financial upped their target price on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price target on RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings raised shares of RB Global from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $128.00.

Insider Transactions at RB Global

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

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.