K.J. Harrison & Partners Inc Takes $8.96 Million Position in RB Global, Inc. $RBA

K.J. Harrison & Partners Inc acquired a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, Holdings Channel reports. The firm acquired 77,088 shares of the business services provider’s stock, valued at approximately $8,957,000. RB Global accounts for 1.3% of K.J. Harrison & Partners Inc’s holdings, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MV Capital Management Inc. bought a new position in RB Global in the 4th quarter worth $29,000. J.Safra Asset Management Corp bought a new stake in RB Global during the second quarter valued at about $32,000. Bayban purchased a new stake in RB Global in the fourth quarter worth about $34,000. Cassaday & Co Wealth Management LLC purchased a new stake in RB Global in the first quarter worth about $43,000. Finally, State of Wyoming bought a new position in shares of RB Global in the second quarter worth about $46,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Down 2.5%

Shares of RBA stock opened at $82.12 on Tuesday. The company’s fifty day simple moving average is $107.35 and its two-hundred day simple moving average is $104.96. RB Global, Inc. has a 52 week low of $82.03 and a 52 week high of $119.58. The stock has a market cap of $15.20 billion, a P/E ratio of 35.24, a PEG ratio of 1.44 and a beta of 0.56. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Analysts predict that RB Global, Inc. will post 4.06 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio is currently 53.22%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RBA. Zacks Research cut RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. 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 note on Tuesday, May 5th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Finally, Weiss Ratings raised RB Global from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

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.