Squarepoint Ops LLC Takes Position in RB Global, Inc. $RBA

Squarepoint Ops LLC bought a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,283 shares of the business services provider’s stock, valued at approximately $732,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. acquired a new position in RB Global during the second quarter worth approximately $1,816,059,000. EdgePoint Investment Group Inc. raised its stake in RB Global by 14.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock valued at $845,337,000 after acquiring an additional 1,111,217 shares during the period. Jupiter Topco LLC acquired a new stake in RB Global during the 2nd quarter valued at $514,871,000. Geode Capital Management LLC lifted its holdings in 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 valued at $513,930,000 after purchasing an additional 250,887 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in RB Global by 13.1% during the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock worth $483,432,000 after purchasing an additional 585,617 shares during the period. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of RB Global stock opened at $83.15 on Friday. 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 stock has a market capitalization of $15.07 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52. RB Global, Inc. has a twelve month low of $79.75 and a twelve month high of $119.58. The company has a 50-day simple moving average of $94.54 and a two-hundred day simple moving average of $100.94.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping 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 company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Analysts forecast that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th were paid a dividend of $0.33 per share. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. RB Global’s dividend payout ratio is 56.65%.

Insiders Place Their Bets

In related news, Director Chloe Harford acquired 1,200 shares of the company’s stock in a transaction on Monday, August 24th. The stock was purchased at an average cost of $83.74 per share, with a total value of $100,488.00. Following the acquisition, the director directly owned 1,200 shares of the company’s stock, valued at approximately $100,488. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah Stein bought 500 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were bought at an average price of $80.91 per share, with a total value of $40,455.00. Following the completion of the transaction, the director owned 2,325 shares in the company, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBA. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings lowered shares of RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Zacks Research lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, National Bank Financial cut their price objective on shares of RB Global from $133.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and an average price target of $127.57.

RB Global Profile

RB Global, Inc (NYSE: RBA) operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.

Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.