BW Gestao de Investimentos Ltda. Has $55.20 Million Stock Position in RB Global, Inc. $RBA

Key Points

• BW Gestao de Investimentos Ltda. increased its stake in RB Global, Inc. by 27.5%, bringing its total holdings to approximately $55.20 million, making RB Global the fund’s fifth largest position.
• Several institutional investors, including CoreCap Advisors LLC and MV Capital Management Inc., have significantly raised their stakes in RB Global during the recent quarter.
• RB Global recently declared a new quarterly dividend of $0.31, an increase from the previous $0.29, reflecting the company's commitment to returning value to its shareholders.

BW Gestao de Investimentos Ltda. lifted its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 27.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 550,298 shares of the business services provider's stock after purchasing an additional 118,613 shares during the period. RB Global comprises about 1.7% of BW Gestao de Investimentos Ltda.'s investment portfolio, making the stock its 5th largest position. BW Gestao de Investimentos Ltda. owned 0.30% of RB Global worth $55,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in RBA. CoreCap Advisors LLC lifted its holdings in RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after buying an additional 117 shares in the last quarter. SouthState Corp purchased a new position in shares of RB Global during the first quarter worth approximately $26,000. MV Capital Management Inc. increased 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 worth $28,000 after acquiring an additional 278 shares during the period. SVB Wealth LLC bought a new stake in shares of RB Global during the first quarter valued at approximately $28,000. Finally, IFP Advisors Inc boosted its holdings in shares of RB Global by 348.8% in the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In other news, Director Adam Dewitt sold 800 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $84,936.00. Following the transaction, the director directly owned 5,865 shares of the company's stock, valued at approximately $622,687.05. This represents a 12.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of RB Global stock in a transaction that occurred 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 completion of the sale, the insider owned 24,874 shares of the company's stock, valued at $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,558 shares of company stock valued at $6,314,145. 0.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RBA shares. Robert W. Baird raised their price objective on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Royal Bank Of Canada raised their price target on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. BMO Capital Markets increased their target price on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, CIBC raised their target price on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, RB Global currently has an average rating of "Moderate Buy" and a consensus price target of $124.33.

RB Global Stock Performance

Shares of RB Global stock opened at $115.66 on Wednesday. The company has a market capitalization of $21.46 billion, a PE ratio of 57.26, a P/E/G ratio of 2.66 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. The company has a 50-day simple moving average of $110.59 and a two-hundred day simple moving average of $104.53. RB Global, Inc. has a one year low of $78.08 and a one year high of $118.23.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released 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. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the business earned $0.94 EPS. The company's revenue was up 8.2% compared to the same quarter last year. Research analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The company 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 an increase from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 28th. RB Global's dividend payout ratio is presently 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.

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