Jane Street Group LLC Has $36.62 Million Holdings in RB Global, Inc. $RBA

Key Points

• Jane Street Group LLC significantly increased its holdings in RB Global, Inc. by 1,469.4% in the first quarter, now owning about 0.20% of the company valued at approximately $36.62 million.
• RB Global has announced a quarterly dividend increase from $0.29 to $0.31 per share, representing a 1.0% dividend yield.
• Analysts rate RB Global with an average rating of "Moderate Buy" and have set a consensus price target of $124.33 following several adjustments in their ratings.

Jane Street Group LLC grew its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1,469.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,071 shares of the business services provider's stock after purchasing an additional 341,809 shares during the period. Jane Street Group LLC owned about 0.20% of RB Global worth $36,617,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of RB Global by 3.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock valued at $1,027,191,000 after acquiring an additional 352,530 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of RB Global by 17.3% during the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after acquiring an additional 557,407 shares during the last quarter. Invesco Ltd. increased its holdings in shares of RB Global by 26.9% during the 1st quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock valued at $244,360,000 after acquiring an additional 516,865 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of RB Global by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 1,854,476 shares of the business services provider's stock valued at $186,098,000 after acquiring an additional 19,543 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in shares of RB Global by 44.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider's stock valued at $151,331,000 after acquiring an additional 463,844 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of RBA stock opened at $118.60 on Friday. The stock has a 50 day moving average of $112.05 and a two-hundred day moving average of $105.23. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a 12 month low of $78.08 and a 12 month high of $118.79. The company has a market capitalization of $22.01 billion, a P/E ratio of 58.71, a P/E/G ratio of 2.70 and a beta of 0.65.

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, topping the consensus estimate of $0.95 by $0.12. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.RB Global's revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. As a group, equities analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

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

Analyst Ratings Changes

RBA has been the topic of a number of analyst reports. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Raymond James Financial increased their price objective on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. National Bankshares increased their price objective on RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. BMO Capital Markets increased their price objective on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada increased their target price on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $124.33.

Insider Activity at RB Global

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

RB Global 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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