Intech Investment Management LLC Increases Holdings in RB Global, Inc. $RBA

Key Points

• Intech Investment Management LLC increased its stake in RB Global, Inc. by 77.0% during Q1, holding 77,800 shares valued at approximately $7.8 million.
• RB Global has announced a quarterly dividend of $0.31, up from the previous $0.29, reflecting increased shareholder returns.
• Recent analyst updates show varying target prices for RB Global, with BMO Capital raising their price target from $125.00 to $130.00 and maintaining an "outperform" rating.

Intech Investment Management LLC grew its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 77.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,800 shares of the business services provider's stock after acquiring an additional 33,845 shares during the quarter. Intech Investment Management LLC's holdings in RB Global were worth $7,807,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RBA. BNP Paribas Financial Markets purchased a new stake in shares of RB Global during the 4th quarter valued at about $1,578,000. Cetera Investment Advisers boosted its holdings in shares of RB Global by 3.6% during the 4th quarter. Cetera Investment Advisers now owns 40,020 shares of the business services provider's stock valued at $3,610,000 after acquiring an additional 1,403 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of RB Global during the 4th quarter valued at about $569,000. CoreCap Advisors LLC boosted 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 valued at $25,000 after acquiring an additional 117 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of RB Global by 4.4% during the 4th quarter. Deutsche Bank AG now owns 246,057 shares of the business services provider's stock valued at $22,197,000 after acquiring an additional 10,393 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 45,658 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $11,832,590. This trade represents a 29.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the sale, the insider owned 24,874 shares of the company's stock, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.32% of the stock is currently owned by company insiders.

RB Global Price Performance

RB Global stock opened at $118.60 on Friday. The stock has a market cap of $22.01 billion, a price-to-earnings ratio of 58.71, a price-to-earnings-growth ratio of 2.70 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global, Inc. has a 1 year low of $78.08 and a 1 year high of $118.79. The firm has a 50-day moving average of $112.05 and a two-hundred day moving average of $105.23.

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

RB Global Increases Dividend

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

Analyst Upgrades and Downgrades

RBA has been the subject of several research reports. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. BMO Capital Markets raised their target price on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Raymond James Financial raised their target price on shares of RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. CIBC raised their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research note on Friday, July 18th. Finally, National Bankshares raised their target price on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, RB Global currently has an average rating of "Moderate Buy" and a consensus target price of $124.33.

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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