Deutsche Bank AG Makes New Investment in RB Global, Inc. $RBA

Key Points

• Deutsche Bank acquired 375,047 shares of RB Global during the second quarter, worth approximately $43.7 million and representing about 0.20% of the company. Institutional investors collectively own 95.37% of RB Global.
• RB Global exceeded quarterly expectations, reporting EPS of $1.13 versus the $1.09 consensus and revenue of $1.66 billion against estimates of $1.21 billion.
• The company increased its quarterly dividend to $0.33 per share, or $1.32 annualized, yielding about 1.5%. Analysts maintain a “Moderate Buy” consensus with an average price target of $128, although shares recently opened at $86.97.

Deutsche Bank AG acquired a new position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the second quarter, according to its most recent filing with the SEC. The firm acquired 375,047 shares of the business services provider's stock, valued at approximately $43,674,000. Deutsche Bank AG owned about 0.20% of RB Global as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Personal CFO Solutions LLC lifted its stake in RB Global by 0.9% in the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider's stock worth $1,073,000 after acquiring an additional 96 shares during the period. Covestor Ltd raised its holdings in RB Global by 11.6% in the 4th 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. lifted its position in shares of RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock worth $54,000 after purchasing an additional 97 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider's stock worth $221,000 after purchasing an additional 105 shares during the period. Finally, Sigma Planning Corp boosted its stake in shares of RB Global by 1.4% during the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider's stock valued at $866,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

Shares of RBA opened at $86.97 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The stock has a market cap of $16.10 billion, a P/E ratio of 37.33, a P/E/G ratio of 1.49 and a beta of 0.56. The business's 50 day moving average price is $105.76 and its 200-day moving average price is $104.24. RB Global, Inc. has a 52 week low of $82.03 and a 52 week high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.21 billion. Equities research analysts anticipate that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This is a positive change from RB Global's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.5%. RB Global's payout ratio is currently 53.22%.

Wall Street Analyst Weigh In

Several analysts have commented on RBA shares. Stephens restated an "equal weight" rating and issued a $96.00 price objective on shares of RB Global in a report on Tuesday, May 5th. Weiss Ratings lowered RB Global from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday. Zacks Research cut RB Global from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. National Bank Financial upped their price target on RB Global from $132.00 to $133.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and an average price target of $128.00.

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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