Alyeska Investment Group L.P. Has $151.33 Million 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 1st quarter, according to its most recent filing with the SEC. The fund owned 1,508,784 shares of the business services provider's stock after purchasing an additional 463,844 shares during the period. Alyeska Investment Group L.P. owned approximately 0.81% of RB Global worth $151,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. increased its stake in RB Global by 0.7% during the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock valued at $1,408,000 after acquiring an additional 100 shares during the period. Nisa Investment Advisors LLC increased its stake in RB Global by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after acquiring an additional 104 shares during the period. Wealth Alliance LLC increased its stake in RB Global by 2.7% during the first quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock valued at $399,000 after acquiring an additional 104 shares during the period. CoreCap Advisors LLC increased its stake in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after acquiring an additional 117 shares during the period. Finally, Fullcircle Wealth LLC boosted its stake in RB Global by 5.5% in the 1st quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider's stock valued at $235,000 after buying an additional 124 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on RBA. BMO Capital Markets increased their price target on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Raymond James Financial increased their price target on RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. CIBC increased their price objective on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada increased their price objective on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.33.

Insider Activity

In related news, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the sale, the insider owned 24,874 shares of the company's stock, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the sale, the director directly owned 5,865 shares in the company, valued at $622,687.05. The trade was a 12.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,558 shares of company stock valued at $6,314,145 in the last 90 days. 4.32% of the stock is owned by company insiders.

RB Global Trading Down 0.9%

Shares of RBA stock traded down $1.01 during trading hours on Friday, reaching $115.02. The company had a trading volume of 1,034,494 shares, compared to its average volume of 969,611. The company has a 50 day moving average of $111.19 and a 200 day moving average of $104.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of 56.94, a P/E/G ratio of 2.70 and a beta of 0.65. RB Global, Inc. has a 1-year low of $78.08 and a 1-year high of $118.23.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.94 EPS. On average, equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be paid a $0.31 dividend. This is an increase from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global's dividend payout ratio (DPR) is currently 61.39%.

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.