D. E. Shaw & Co. Inc. Purchases 13,158 Shares of RB Global, Inc. (NYSE:RBA)

D. E. Shaw & Co. Inc. raised its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 190.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,058 shares of the business services provider's stock after purchasing an additional 13,158 shares during the period. D. E. Shaw & Co. Inc.'s holdings in RB Global were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CoreCap Advisors LLC grew its stake in RB Global by 74.5% in 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 during the last quarter. Jones Financial Companies Lllp grew its stake in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of RB Global during the fourth quarter worth about $36,000. Whipplewood Advisors LLC purchased a new stake in shares of RB Global during the fourth quarter worth about $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of RB Global during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Price Performance

Shares of NYSE RBA opened at $108.07 on Thursday. The business's 50 day moving average price is $99.70 and its 200 day moving average price is $95.97. The firm has a market cap of $20.01 billion, a P/E ratio of 53.77, a P/E/G ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a 52 week low of $70.27 and a 52 week high of $109.25. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting analysts' consensus estimates of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. RB Global's revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a $0.29 dividend. The ex-dividend date is Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.07%. RB Global's dividend payout ratio is presently 57.14%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RBA shares. StockNews.com upgraded RB Global from a "hold" rating to a "buy" rating in a research note on Tuesday. BMO Capital Markets boosted their price target on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Raymond James boosted their price target on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. CIBC boosted their price target on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada upped their target price on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, RB Global has an average rating of "Moderate Buy" and an average target price of $114.50.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO James J. Jeter sold 7,597 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,983,125.95. This represents a 27.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,472 shares of company stock worth $3,867,745. Corporate insiders own 4.32% of the company's stock.

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.

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