ASR Vermogensbeheer N.V. Takes Position in RB Global, Inc. (NYSE:RBA)

Key Points

• ASR Vermogensbeheer N.V. invested $249,000 in RB Global, acquiring 2,485 shares in the first quarter.
• RB Global reported an EPS of $1.07 for the last quarter, exceeding estimates, with revenue rising to $1.20 billion.
• The company announced a dividend increase to $0.31 per share, up from $0.29, reflecting a 1.1% yield.

ASR Vermogensbeheer N.V. acquired a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,485 shares of the business services provider's stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RBA. Massachusetts Financial Services Co. MA boosted its holdings in RB Global by 3.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock valued at $1,027,191,000 after purchasing an additional 352,530 shares in the last quarter. Fiera Capital Corp lifted its position in shares of RB Global by 17.3% during the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock worth $379,150,000 after buying an additional 557,407 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of RB Global by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock worth $307,033,000 after buying an additional 19,895 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of RB Global by 5.9% in the 4th quarter. Invesco Ltd. now owns 1,919,431 shares of the business services provider's stock valued at $173,152,000 after buying an additional 106,627 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of RB Global by 13.3% in the 4th quarter. Northern Trust Corp now owns 1,399,401 shares of the business services provider's stock valued at $126,240,000 after buying an additional 163,820 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Performance

Shares of NYSE:RBA traded down $0.59 on Tuesday, reaching $116.74. The company's stock had a trading volume of 1,616,303 shares, compared to its average volume of 985,503. RB Global, Inc. has a 52-week low of $78.08 and a 52-week high of $117.76. The stock has a market capitalization of $21.66 billion, a P/E ratio of 57.79, a PEG ratio of 2.72 and a beta of 0.75. The stock's 50-day moving average is $107.60 and its two-hundred day moving average is $102.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, sell-side analysts forecast 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 dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. This is a boost from RB Global's previous quarterly dividend of $0.29. The ex-dividend date is Thursday, August 28th. RB Global's dividend payout ratio (DPR) is currently 57.43%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada upped their target price on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. BMO Capital Markets raised their price target on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $119.79.

Insider Buying and Selling

In other news, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $11,832,590. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,558 shares of company stock worth $6,528,065 over the last three months. 0.28% of the stock is owned by company insiders.

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.