GAMMA Investing LLC Raises Position in RB Global, Inc. (NYSE:RBA)

GAMMA Investing LLC increased its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 12,802.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 161,282 shares of the business services provider's stock after acquiring an additional 160,032 shares during the period. GAMMA Investing LLC owned about 0.09% of RB Global worth $16,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RBA. Raymond James Financial Inc. purchased a new stake in shares of RB Global during the 4th quarter valued at about $266,148,000. Norges Bank bought a new position in RB Global during the fourth quarter valued at approximately $209,931,000. FMR LLC boosted its holdings in RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock worth $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. grew its position in RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after purchasing an additional 753,700 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in RB Global in the 4th quarter worth approximately $39,080,000. 95.37% of the stock is owned by institutional investors.

RB Global Trading Down 0.0%

RB Global stock traded down $0.05 during mid-day trading on Friday, hitting $105.21. The company's stock had a trading volume of 957,576 shares, compared to its average volume of 1,135,720. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company has a 50 day moving average of $101.11 and a 200-day moving average of $97.10. RB Global, Inc. has a one year low of $70.38 and a one year high of $115.89. The stock has a market cap of $19.48 billion, a PE ratio of 52.34, a P/E/G ratio of 4.95 and a beta of 0.78.

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

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global's dividend payout ratio (DPR) is presently 57.14%.

Insiders Place Their Bets

In related news, CRO James J. Jeter sold 7,597 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now owns 20,267 shares of the company's stock, valued at $1,983,125.95. This trade represents a 27.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares of the company's stock, valued at $10,521,323.89. This represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,472 shares of company stock worth $3,867,745 in the last three months. Corporate insiders own 4.32% of the company's stock.

Analysts Set New Price Targets

RBA has been the subject of a number of recent research reports. National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Raymond James raised their price objective on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. BMO Capital Markets upped their target price on shares of RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. CIBC increased their price target on shares of RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada lifted their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

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.