Boston Partners Has $323.58 Million Holdings in RB Global, Inc. (NYSE:RBA)

Key Points

• Boston Partners reduced its holdings in RB Global, Inc. by 2.5%, now owning 3,226,367 shares worth approximately $323.5 million.
• Several institutional investors increased their positions in RB Global, with CoreCap Advisors boosting holdings by 74.5% in the last quarter.
• RB Global recently reported better-than-expected quarterly earnings of $1.07 EPS, exceeding analyst estimates, and announced an increased quarterly dividend of $0.31 per share.

Boston Partners decreased its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,226,367 shares of the business services provider's stock after selling 82,610 shares during the period. Boston Partners owned approximately 1.74% of RB Global worth $323,577,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CoreCap Advisors LLC boosted its stake in shares of 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 purchasing an additional 117 shares in the last quarter. SouthState Corp purchased a new position in shares of RB Global during the first quarter valued at approximately $26,000. MV Capital Management Inc. boosted its position 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 valued at $28,000 after buying an additional 278 shares during the last quarter. IFP Advisors Inc boosted its position in RB Global by 348.8% in the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after purchasing an additional 279 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after buying an additional 104 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird boosted their price objective on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Royal Bank Of Canada increased their target price 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 raised their price objective on RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Finally, Raymond James Financial boosted their price target on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, RB Global presently has an average rating of "Moderate Buy" and a consensus price target of $119.79.

RB Global Trading Down 2.0%

NYSE:RBA traded down $2.30 during trading hours on Friday, reaching $115.13. 1,221,840 shares of the stock were exchanged, compared to its average volume of 1,055,790. The company has a market capitalization of $21.36 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 2.72 and a beta of 0.75. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a twelve month low of $78.08 and a twelve month high of $118.23. The business has a 50-day moving average of $108.31 and a two-hundred day moving average of $102.51.

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

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be issued a $0.31 dividend. This is a boost from RB Global's previous quarterly dividend of $0.29. The ex-dividend date is Thursday, August 28th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global's payout ratio is presently 57.43%.

Insider Buying and Selling at RB Global

In related news, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction dated Monday, July 14th. The shares were 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 in the company, valued at $2,736,140. This represents a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Adam Dewitt sold 800 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the transaction, the director owned 5,865 shares of the company's stock, valued at $622,687.05. This trade represents 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 sold 57,558 shares of company stock worth $6,314,145. Insiders own 4.32% of the company's stock.

RB Global Company 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.