BW Gestao de Investimentos Ltda. Purchases 100,391 Shares of RB Global, Inc. $RBA

Key Points

• BW Gestao de Investimentos Ltda. increased its RB Global stake by 14.6% in the fourth quarter, buying 100,391 shares and bringing its total holdings to 785,947 shares worth about $80.85 million.
• RB Global’s stock has also drawn interest from insiders and analysts: Director Deborah Stein bought 425 shares, and Wall Street now has a Moderate Buy consensus with an average price target of $126.13.
• The company posted better-than-expected Q1 results, with EPS of $1.01 versus $0.97 expected and revenue of $1.21 billion, while also announcing a quarterly dividend of $0.31 per share.

BW Gestao de Investimentos Ltda. raised its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 785,947 shares of the business services provider's stock after buying an additional 100,391 shares during the quarter. RB Global comprises about 1.8% of BW Gestao de Investimentos Ltda.'s portfolio, making the stock its 5th biggest holding. BW Gestao de Investimentos Ltda. owned about 0.42% of RB Global worth $80,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Covestor Ltd lifted its position in shares of RB Global by 11.6% during the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider's stock worth $96,000 after purchasing an additional 97 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of RB Global by 5.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider's stock worth $221,000 after acquiring an additional 105 shares during the last quarter. Central Pacific Bank Trust Division grew its position in shares of RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock worth $37,000 after acquiring an additional 107 shares during the last quarter. Finally, Sigma Planning Corp grew its position in shares of RB Global by 1.4% during the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider's stock worth $866,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director owned 1,825 shares of the company's stock, valued at $188,248.75. The trade was a 30.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

RBA has been the topic of a number of research reports. Weiss Ratings restated a "buy (b-)" rating on shares of RB Global in a research report on Tuesday, May 26th. Royal Bank Of Canada raised their target price on RB Global from $146.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. Stephens reissued an "equal weight" rating and issued a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. Barclays initiated coverage on RB Global in a report on Thursday. They issued an "overweight" rating and a $124.00 target price for the company. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $126.13.

RB Global Stock Performance

NYSE RBA opened at $105.23 on Tuesday. The firm has a market capitalization of $19.57 billion, a P/E ratio of 48.95, a P/E/G ratio of 1.69 and a beta of 0.57. RB Global, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The business's 50-day simple moving average is $102.16 and its 200-day simple moving average is $103.96.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.89 EPS. RB Global's revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts predict that RB Global, Inc. will post 4.09 EPS for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, May 27th. RB Global's dividend payout ratio is presently 57.67%.

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.

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