Deutsche Bank AG Boosts Position in RB Global, Inc. $RBA

Deutsche Bank AG boosted its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,997 shares of the business services provider's stock after purchasing an additional 5,940 shares during the quarter. Deutsche Bank AG owned approximately 0.14% of RB Global worth $25,275,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. increased its holdings in shares of RB Global by 122.2% during the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock valued at $770,000 after acquiring an additional 4,222 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of RB Global by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider's stock valued at $9,376,000 after acquiring an additional 8,723 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of RB Global by 28.6% during the first quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock valued at $161,000 after acquiring an additional 358 shares in the last quarter. Mariner LLC increased its holdings in shares of RB Global by 32.4% during the fourth quarter. Mariner LLC now owns 48,124 shares of the business services provider's stock valued at $4,341,000 after acquiring an additional 11,767 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of RB Global by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after acquiring an additional 104 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Activity at RB Global

In other RB Global news, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director owned 5,865 shares in the company, valued at approximately $622,687.05. This trade represents a 12.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 45,658 shares of the firm's 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 in the company, valued at $11,832,590. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,558 shares of company stock valued at $6,314,145. 0.28% of the stock is owned by company insiders.

RB Global Price Performance

RB Global stock traded up $0.47 during trading on Monday, reaching $115.37. The company had a trading volume of 497,115 shares, compared to its average volume of 1,090,545. The firm's 50-day simple moving average is $108.31 and its 200 day simple moving average is $102.68. RB Global, Inc. has a 1-year low of $78.08 and a 1-year high of $118.23. The firm has a market capitalization of $21.40 billion, a PE ratio of 57.14, a price-to-earnings-growth ratio of 2.66 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

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 (EPS) 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 firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter last year, the company earned $0.94 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. This is an increase from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio is 57.43%.

Analyst Ratings Changes

RBA has been the subject of a number of research analyst reports. Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Raymond James Financial raised their target price on RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. CIBC increased their price target on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. Robert W. Baird increased their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets increased their price target 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $119.79.

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.