117,353 Shares in RB Global, Inc. $RBA Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, HoldingsChannel reports. The fund purchased 117,353 shares of the business services provider’s stock, valued at approximately $13,657,000.

Other large investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in shares of RB Global by 9.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock worth $19,873,000 after purchasing an additional 17,489 shares during the last quarter. Bank of America Corp DE lifted its holdings in RB Global by 7.8% during the 1st quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock valued at $139,216,000 after purchasing an additional 104,560 shares during the last quarter. Wilson Asset Management International PTY Ltd. boosted its position in RB Global by 8.5% in the fourth quarter. Wilson Asset Management International PTY Ltd. now owns 139,295 shares of the business services provider’s stock valued at $14,329,000 after buying an additional 10,951 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in RB Global by 20.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 173,358 shares of the business services provider’s stock valued at $17,833,000 after buying an additional 29,530 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in RB Global by 127.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider’s stock worth $3,068,000 after buying an additional 14,755 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Down 0.1%

Shares of NYSE RBA opened at $86.97 on Monday. RB Global, Inc. has a 12-month low of $82.03 and a 12-month high of $119.58. The firm’s 50-day simple moving average is $105.76 and its 200 day simple moving average is $104.17. 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 company has a market cap of $16.10 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 1.49 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 the consensus estimate of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, research analysts expect that RB Global, Inc. will post 4.06 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 paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.5%. This is an increase from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. RB Global’s payout ratio is currently 53.22%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings cut RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Finally, Royal Bank Of Canada lifted their price objective on RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.00.

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.