Amundi Acquires 71,426 Shares of RB Global, Inc. $RBA

Key Points

• Amundi increased its RB Global stake by 29.3% in the first quarter, purchasing 71,426 additional shares to own 315,134 shares valued at approximately $30.2 million. Institutional investors collectively own 95.37% of the company.
• RB Global reported quarterly EPS of $1.01, beating estimates of $0.97, while revenue rose 11.4% year over year to $888 million. The company raised its quarterly dividend from $0.31 to $0.33 per share, implying a 1.2% yield.
• The stock was trading at $112.35, up 2.4%, and analysts maintained a generally positive outlook with an average “Buy” rating and a $127.57 price target, despite mixed individual recommendations.

Amundi boosted its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 29.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 315,134 shares of the business services provider's stock after purchasing an additional 71,426 shares during the period. Amundi owned about 0.17% of RB Global worth $30,206,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of RB Global by 6,120,490.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider's stock worth $251,851,000 after acquiring an additional 2,448,196 shares during the period. Norges Bank bought a new position in RB Global during the 4th quarter worth approximately $231,813,000. Lazard Asset Management LLC bought a new position in RB Global during the 1st quarter worth approximately $210,091,000. EdgePoint Investment Group Inc. lifted its position in shares of RB Global by 14.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider's stock worth $845,337,000 after purchasing an additional 1,111,217 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of RB Global by 13.1% in the 1st quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider's stock worth $483,432,000 after purchasing an additional 585,617 shares during the period. 95.37% of the stock is owned by institutional investors.

RB Global Trading Up 2.4%

NYSE:RBA opened at $112.35 on Tuesday. RB Global, Inc. has a 12 month low of $93.58 and a 12 month high of $119.58. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of 52.26, a PEG ratio of 2.24 and a beta of 0.56. The firm has a fifty day simple moving average of $109.97 and a two-hundred day simple moving average of $106.56.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. The firm had revenue of $888.01 million for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. Analysts expect that RB Global, Inc. will post 4.16 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. This is a positive change from RB Global's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 25th. RB Global's dividend payout ratio is presently 57.67%.

Insider Activity at RB Global

In other news, Director Deborah Stein bought 425 shares of the stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares of the company's stock, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RBA. Barclays decreased their price objective on shares of RB Global from $124.00 to $121.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Stephens reiterated an "equal weight" rating and set a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Zacks Research raised RB Global from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 3rd. Finally, Royal Bank Of Canada boosted their price objective on RB Global from $146.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, RB Global currently has an average rating of "Buy" and an average price target of $127.57.

About RB Global

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.

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