MQS Management LLC Acquires Shares of 3,466 RB Global, Inc. (NYSE:RBA)

MQS Management LLC bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,466 shares of the business services provider’s stock, valued at approximately $264,000.

Other hedge funds have also modified their holdings of the company. UniSuper Management Pty Ltd grew its stake in RB Global by 84.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the business services provider’s stock valued at $198,000 after acquiring an additional 1,188 shares in the last quarter. Covestor Ltd boosted its holdings in RB Global by 78.0% in the 1st quarter. Covestor Ltd now owns 1,422 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 623 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in RB Global by 29.4% in the first quarter. Hillsdale Investment Management Inc. now owns 132,100 shares of the business services provider’s stock valued at $10,066,000 after purchasing an additional 30,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of RB Global by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after purchasing an additional 1,153,497 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of RB Global during the 1st quarter worth $613,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Performance

NYSE:RBA traded up $0.01 during midday trading on Friday, reaching $78.58. The stock had a trading volume of 51,947 shares, compared to its average volume of 1,133,591. The stock has a market cap of $14.37 billion, a P/E ratio of 47.33, a P/E/G ratio of 5.43 and a beta of 0.91. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. RB Global, Inc. has a 12-month low of $55.54 and a 12-month high of $81.87. The firm has a fifty day simple moving average of $77.20 and a two-hundred day simple moving average of $73.43.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.15. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 8.08% and a return on equity of 6.87%. On average, equities analysts expect that RB Global, Inc. will post 2.04 EPS for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were issued a $0.27 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.37%. RB Global’s dividend payout ratio is currently 65.06%.

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of research analyst reports. Scotiabank upped their price objective on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 24th. Bank of America raised their price target on RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Finally, CIBC assumed coverage on RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.50.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 14,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $75.43, for a total value of $1,056,020.00. Following the completion of the sale, the executive now owns 28,267 shares of the company’s stock, valued at $2,132,179.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Baron Concors sold 13,230 shares of RB Global stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the completion of the transaction, the insider now owns 15,487 shares of the company’s stock, valued at approximately $1,162,299.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO James J. Jeter sold 14,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the sale, the executive now directly owns 28,267 shares in the company, valued at $2,132,179.81. The disclosure for this sale can be found here. Insiders have sold a total of 43,867 shares of company stock worth $3,370,272 over the last three months. 4.32% of the stock is currently owned by corporate 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.