Bank of New York Mellon Corp Acquires New Shares in RB Global, Inc. $RBA

Bank of New York Mellon Corp bought a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 953,377 shares of the business services provider's stock, valued at approximately $111,021,000. Bank of New York Mellon Corp owned about 0.51% of RB Global as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. MV Capital Management Inc. acquired a new position in shares of RB Global during the fourth quarter worth $29,000. Bayban bought a new stake in RB Global during the 4th quarter worth $34,000. Cassaday & Co Wealth Management LLC bought a new stake in RB Global during the 1st quarter worth $43,000. State of Wyoming acquired a new position in RB Global in the 2nd quarter worth about $46,000. Finally, Nemes Rush Group LLC acquired a new position in RB Global in the 4th quarter worth about $54,000. Institutional investors own 95.37% of the company's stock.

RB Global Stock Down 3.4%

Shares of RB Global stock opened at $84.06 on Tuesday. The stock's 50-day moving average is $105.23 and its 200 day moving average is $103.96. RB Global, Inc. has a one year low of $82.03 and a one year high of $119.58. The firm has a market cap of $15.56 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 1.49 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. Equities research analysts anticipate that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The business 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 an increase from RB Global's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, August 25th. RB Global's dividend payout ratio (DPR) is currently 53.22%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RBA. Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Weiss Ratings lowered shares of RB Global from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, August 17th. Royal Bank Of Canada lifted their target price on shares of RB Global from $150.00 to $152.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of RB Global in a research report on Wednesday, August 5th. Finally, Raymond James Financial raised shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price target for the company in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.00.

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.

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