Korea Investment CORP Invests $16.10 Million in RB Global, Inc. $RBA

Korea Investment CORP purchased a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 138,345 shares of the business services provider's stock, valued at approximately $16,100,000. Korea Investment CORP owned about 0.07% of RB Global as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in RB Global during the second quarter worth $1,816,059,000. EdgePoint Investment Group Inc. boosted its holdings in RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider's stock worth $845,337,000 after acquiring an additional 1,111,217 shares during the last quarter. State Street Corp raised its holdings in shares of RB Global by 1.7% in the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider's stock valued at $647,118,000 after purchasing an additional 104,286 shares during the last quarter. Royal Bank of Canada lifted its position in shares of RB Global by 13.1% during the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider's stock valued at $483,432,000 after purchasing an additional 585,617 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider's stock worth $513,930,000 after purchasing an additional 250,887 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets reiterated an "outperform" rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Stephens restated an "equal weight" rating and issued a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. Barclays cut their price target on shares of RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Royal Bank Of Canada raised their price objective on shares of RB Global from $150.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.00.

RB Global Price Performance

Shares of RBA stock opened at $86.97 on Monday. The business's fifty day moving average is $105.76 and its 200 day moving average is $104.17. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The stock has a market cap of $16.10 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 1.49 and a beta of 0.56. RB Global, Inc. has a twelve month low of $82.03 and a twelve month high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. Research analysts expect that RB Global, Inc. will post 4.06 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.5%. This is a boost from RB Global's previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. RB Global's dividend payout ratio is currently 53.22%.

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.

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