BW Gestao de Investimentos Ltda. Has $55.20 Million Stake 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. raised its position 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,298 shares of the business services provider's stock after buying an additional 118,613 shares during the quarter. RB Global accounts for 1.7% of BW Gestao de Investimentos Ltda.'s holdings, making the stock its 5th biggest holding. BW Gestao de Investimentos Ltda. owned 0.30% of RB Global worth $55,195,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp acquired a new position in RB Global in the 1st quarter valued at $26,000. CoreCap Advisors LLC grew its holdings in RB Global by 74.5% in 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. SVB Wealth LLC acquired a new position in RB Global in the 1st quarter valued at $28,000. MV Capital Management Inc. grew its holdings in RB Global by 5,560.0% in the 1st 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 in the last quarter. Finally, IFP Advisors Inc grew its holdings in RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after buying an additional 279 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Price Performance

RBA traded down $0.42 on Monday, reaching $114.63. The stock had a trading volume of 357,110 shares, compared to its average volume of 1,066,912. RB Global, Inc. has a fifty-two week low of $78.08 and a fifty-two week high of $118.23. The firm has a 50-day moving average of $111.19 and a 200-day moving average of $104.88. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $21.27 billion, a price-to-earnings ratio of 56.75, a price-to-earnings-growth ratio of 2.68 and a beta of 0.65.

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 for the quarter, beating the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 28th. RB Global's dividend payout ratio is 61.39%.

Insider Activity

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares of the company's stock, valued at approximately $11,832,590. This trade represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,558 shares of company stock worth $6,314,145 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Raymond James Financial upped their price objective on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a report on Friday. National Bankshares upped their target price 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. BMO Capital Markets upped their target price on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, RB Global currently has a consensus rating of "Moderate Buy" and an average price target of $124.33.

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.