Alyeska Investment Group L.P. Has $151.33 Million Stock Holdings in RB Global, Inc. $RBA

Key Points

• Alyeska Investment Group L.P. increased its stake in RB Global, Inc. by 44.4%, acquiring an additional 463,844 shares, bringing its total ownership to approximately 1.5 million shares valued at $151.3 million.
• Analysts have upgraded the stock's rating from "hold" to "buy," with several price targets raised, indicating strong market confidence with a consensus target price of $124.33.
• RB Global recently announced a quarterly dividend increase from $0.29 to $0.31 per share, reflecting the company's commitment to returning value to its shareholders.

Alyeska Investment Group L.P. increased its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 44.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,508,784 shares of the business services provider's stock after purchasing an additional 463,844 shares during the quarter. Alyeska Investment Group L.P. owned 0.81% of RB Global worth $151,331,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of RBA. CoreCap Advisors LLC increased its holdings in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after acquiring an additional 117 shares during the last quarter. SouthState Corp acquired a new stake in shares of RB Global during the first quarter worth $26,000. MV Capital Management Inc. lifted its holdings in shares of RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after buying an additional 278 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of RB Global during the first quarter worth $28,000. Finally, IFP Advisors Inc lifted its holdings in shares of RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after buying an additional 279 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. CIBC lifted their price target on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Friday. Royal Bank Of Canada increased their price target on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. National Bankshares boosted their price target on RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $124.33.

RB Global Price Performance

RBA traded down $0.53 on Monday, reaching $114.52. The stock had a trading volume of 316,245 shares, compared to its average volume of 1,066,696. RB Global, Inc. has a fifty-two week low of $78.08 and a fifty-two week high of $118.23. The firm has a 50-day moving average of $111.19 and a 200-day moving average of $104.88. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of 56.66, a price-to-earnings-growth ratio of 2.68 and a beta of 0.65.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 28th. This is a boost from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio (DPR) is presently 61.39%.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the transaction, the chief executive officer directly owned 107,569 shares of the company's stock, valued at approximately $11,832,590. The trade was a 29.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director directly owned 5,865 shares in the company, valued at $622,687.05. The trade was a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,558 shares of company stock valued at $6,314,145. 0.28% of the stock is currently owned by company 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.