Alpine Global Management LLC Makes New Investment in RB Global, Inc. (NYSE:RBA)

Alpine Global Management LLC bought a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,745 shares of the business services provider's stock, valued at approximately $789,000.

A number of other large investors have also modified their holdings of RBA. CoreCap Advisors LLC raised its stake in shares of RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after purchasing an additional 129 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of RB Global in the fourth quarter valued at $36,000. Whipplewood Advisors LLC acquired a new position in shares of RB Global in the fourth quarter valued at $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of RB Global in the fourth quarter valued at $40,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Robert W. Baird upped their price target on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, National Bankshares lowered their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $114.50.

RB Global Price Performance

Shares of RBA traded down $1.30 during mid-day trading on Friday, hitting $107.24. 982,874 shares of the company traded hands, compared to its average volume of 1,122,614. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $19.86 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 4.95 and a beta of 0.78. The business has a 50-day moving average of $100.11 and a 200 day moving average of $96.37. RB Global, Inc. has a one year low of $70.27 and a one year high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting analysts' consensus estimates of $0.89. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. As a group, equities analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a $0.29 dividend. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.08%. RB Global's payout ratio is 57.14%.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the transaction, the chief executive officer now owns 107,569 shares of the company's stock, valued at approximately $10,521,323.89. This trade represents a 12.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 600 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the transaction, the executive now directly owns 19,667 shares in the company, valued at $1,939,756.21. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,472 shares of company stock valued at $3,867,745. 4.32% of the stock is currently owned by insiders.

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.