Swiss National Bank Grows Stock Position in RB Global, Inc. $RBA

Swiss National Bank increased its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 27.0% in the 1st quarter, HoldingsChannel reports. The firm owned 624,943 shares of the business services provider’s stock after purchasing an additional 132,900 shares during the period. Swiss National Bank’s holdings in RB Global were worth $59,845,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of RB Global by 94.3% in the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after buying an additional 5,090 shares during the period. NewEdge Advisors LLC increased its stake in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after buying an additional 204 shares during the period. Jones Financial Companies Lllp increased its stake in shares of RB Global by 857.9% during the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after buying an additional 3,346 shares during the period. Goldman Sachs Group Inc. raised its holdings in RB Global by 35.6% in the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after acquiring an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in RB Global in the first quarter valued at approximately $4,103,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded shares of RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Barclays began coverage on shares of RB Global in a research report on Thursday, May 28th. They set an “overweight” rating and a $124.00 price objective for the company. BMO Capital Markets reiterated 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. Finally, Stephens reissued an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $128.00.

Insider Activity

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. Insiders own 0.57% of the company’s stock.

RB Global Price Performance

RBA stock opened at $110.54 on Wednesday. The business has a 50 day moving average price of $108.30 and a 200 day moving average price of $106.21. The stock has a market cap of $20.55 billion, a price-to-earnings ratio of 51.41, a PEG ratio of 1.73 and a beta of 0.55. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. The firm had revenue of $888.01 million during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 earnings per share. Equities research analysts anticipate that RB Global, Inc. will post 4.16 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were issued a $0.31 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global’s dividend payout ratio is presently 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.