Commerce Bank purchased a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,921 shares of the business services provider's stock, valued at approximately $3,019,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Addison Advisors LLC acquired a new stake in shares of RB Global in the 2nd quarter valued at about $26,000. MV Capital Management Inc. bought a new position in shares of RB Global during the fourth quarter worth about $29,000. J.Safra Asset Management Corp acquired a new position in RB Global in the second quarter worth about $32,000. Bayban bought a new stake in RB Global in the fourth quarter valued at about $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in RB Global in the first quarter valued at about $43,000. 95.37% of the stock is owned by institutional investors and hedge funds.
RB Global Stock Down 3.4%
NYSE:RBA opened at $84.06 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $105.23 and a 200-day moving average of $103.96. The firm has a market capitalization of $15.56 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56. RB Global, Inc. has a 52 week low of $82.03 and a 52 week high of $119.58.
RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly 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. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. Analysts predict that RB Global, Inc. will post 4.06 EPS for the current year.
RB Global Increases Dividend
The company also recently declared 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. This is an increase from RB Global's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, August 25th. RB Global's payout ratio is currently 53.22%.
Wall Street Analyst Weigh In
A number of research analysts have commented on RBA shares. Royal Bank Of Canada increased their target price on RB Global from $150.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. BMO Capital Markets reissued an "outperform" rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of RB Global in a research note on Wednesday, August 5th. National Bank Financial lifted their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, Raymond James Financial upgraded shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 target price for the company in a research note on Tuesday, June 30th. 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 company's stock. Based on data from MarketBeat.com, RB Global presently has a consensus rating of "Moderate Buy" and an average target price of $128.00.
Check Out Our Latest Stock Report on RBA
About RB Global
(
Free Report)
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.
Further Reading
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