Gotham Asset Management LLC Raises Stock Holdings in RB Global, Inc. $RBA

Key Points

• Gotham Asset Management LLC increased its stake in RB Global, Inc. by 91.6%, holding 162,294 shares valued at approximately $16.28 million.
• RB Global recently reported earnings per share of $1.07, surpassing analyst expectations, and achieved a revenue of $1.20 billion for the quarter.
• The company is set to pay a quarterly dividend of $0.31, reflecting a positive increase from the previous quarter's dividend of $0.29.

Gotham Asset Management LLC lifted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 91.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 162,294 shares of the business services provider's stock after buying an additional 77,597 shares during the period. Gotham Asset Management LLC owned about 0.09% of RB Global worth $16,278,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of RBA. CoreCap Advisors LLC raised its holdings in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after buying an additional 117 shares in the last quarter. SouthState Corp bought a new stake in RB Global during the 1st quarter worth $26,000. MV Capital Management Inc. grew its position in RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after acquiring an additional 278 shares during the last quarter. SVB Wealth LLC bought a new stake in RB Global during the 1st quarter worth $28,000. Finally, IFP Advisors Inc grew its position in RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Trading Up 1.9%

RBA traded up $2.20 during trading on Thursday, hitting $118.39. The company's stock had a trading volume of 548,192 shares, compared to its average volume of 1,067,851. RB Global, Inc. has a twelve month low of $78.08 and a twelve month high of $118.79. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. The stock's fifty day moving average price is $111.80 and its 200-day moving average price is $105.12. The firm has a market capitalization of $21.97 billion, a P/E ratio of 58.61, a PEG ratio of 2.70 and a beta of 0.65.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company's revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. Analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.0%. This is a boost from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 28th. RB Global's dividend payout ratio (DPR) is currently 61.39%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RBA. Royal Bank Of Canada boosted their price objective on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. BMO Capital Markets increased their price target on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Raymond James Financial increased their price target on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bankshares increased their price target on RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, CIBC increased their price target on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.33.

Insider Activity at RB Global

In other news, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider directly owned 24,874 shares of the company's stock, valued at $2,736,140. This represents a 22.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Francis Kessler sold 45,658 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company's stock, valued at approximately $11,832,590. This trade represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.