K.J. Harrison & Partners Inc Boosts Stake in RB Global, Inc. $RBA

Key Points

• K.J. Harrison & Partners increased its stake in RB Global by 55.3% in the 4th quarter to 93,723 shares, representing 0.05% of the company (worth $9.66M) and 1.3% of the fund's portfolio as its 12th largest holding.
• RB Global beat estimates for the most recent quarter with $1.01 EPS vs. $0.97 expected and revenue of $1.21B (up 11.4% YoY), and the company declared a $0.31 quarterly dividend ($1.24 annual, 1.2% yield) with an ex-dividend date of May 27.
• Institutional investors own about 95.37% of the stock, insiders hold 0.57%, and Director Deborah Stein recently bought 400 shares at $98.74, raising her stake to 1,400 shares (a 40% increase).

K.J. Harrison & Partners Inc raised its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 55.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,723 shares of the business services provider's stock after buying an additional 33,374 shares during the period. RB Global accounts for 1.3% of K.J. Harrison & Partners Inc's investment portfolio, making the stock its 12th biggest holding. K.J. Harrison & Partners Inc owned 0.05% of RB Global worth $9,663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division increased its position in shares of RB Global by 41.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock valued at $37,000 after purchasing an additional 107 shares during the last quarter. Spire Wealth Management increased its position in shares of RB Global by 1,090.6% during the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider's stock valued at $41,000 after purchasing an additional 349 shares during the last quarter. State of Wyoming purchased a new stake in shares of RB Global during the 2nd quarter valued at $46,000. Geneos Wealth Management Inc. increased its position in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider's stock valued at $59,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Activity at RB Global

In other news, Director Deborah Stein purchased 400 shares of RB Global stock in a transaction dated Wednesday, March 18th. The stock was purchased at an average cost of $98.74 per share, for a total transaction of $39,496.00. Following the transaction, the director directly owned 1,400 shares of the company's stock, valued at approximately $138,236. This trade represents a 40.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

RB Global Stock Down 0.5%

RBA stock opened at $105.98 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $19.70 billion, a PE ratio of 49.29, a PEG ratio of 1.62 and a beta of 0.57. RB Global, Inc. has a twelve month low of $93.58 and a twelve month high of $119.58. The stock has a 50-day simple moving average of $101.02 and a two-hundred day simple moving average of $103.46.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. On average, equities analysts predict that RB Global, Inc. will post 4.04 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, May 27th. RB Global's payout ratio is 57.67%.

Wall Street Analyst Weigh In

RBA has been the subject of several research analyst reports. BMO Capital Markets restated an "outperform" rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research note on Tuesday. Royal Bank Of Canada raised their price target on shares of RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday. Raymond James Financial raised their price target on shares of RB Global from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 20th. Stephens restated an "equal weight" rating and set a $96.00 price target on shares of RB Global in a research note on Tuesday. Finally, Weiss Ratings upgraded shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 26th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $125.00.

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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