Landscape Capital Management L.L.C. Invests $2.48 Million in RB Global, Inc. $RBA

Key Points

• Landscape Capital Management acquired 21,333 shares of RB Global worth approximately $2.48 million during the second quarter. Institutional investors and hedge funds collectively own 95.37% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $128. Recent targets range as high as $152.
• RB Global exceeded quarterly earnings expectations, reporting $1.13 in EPS and $1.66 billion in revenue. The company also raised its quarterly dividend to $0.33 per share, representing a 1.5% annualized yield.

Landscape Capital Management L.L.C. purchased a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 21,333 shares of the business services provider's stock, valued at approximately $2,484,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Personal CFO Solutions LLC boosted its stake in RB Global by 0.9% in the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider's stock worth $1,073,000 after purchasing an additional 96 shares in the last quarter. Covestor Ltd raised its holdings in shares of RB Global by 11.6% in the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider's stock valued at $96,000 after buying an additional 97 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after buying an additional 97 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in RB Global by 5.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider's stock worth $221,000 after buying an additional 105 shares in the last quarter. Finally, Sigma Planning Corp lifted its position in RB Global by 1.4% during the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider's stock worth $866,000 after buying an additional 114 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RBA. Raymond James Financial raised shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price objective on the stock in a report on Tuesday, June 30th. National Bank Financial upped their target price on shares of RB Global from $132.00 to $133.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Stephens reissued an "equal weight" rating and set a $96.00 price target on shares of RB Global in a research note on Tuesday, May 5th. BMO Capital Markets reissued an "outperform" rating and issued a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their price target on shares of RB Global from $150.00 to $152.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $128.00.

RB Global Price Performance

RB Global stock opened at $86.97 on Friday. The business's 50-day simple moving average is $105.76 and its 200 day simple moving average is $104.24. The stock has a market cap of $16.10 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 1.49 and a beta of 0.56. RB Global, Inc. has a 12-month low of $82.03 and a 12-month high of $119.58. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.21 billion. As a group, research analysts anticipate that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 1.5%. This is a positive change from RB Global's previous quarterly dividend of $0.31. RB Global's dividend payout ratio is presently 53.22%.

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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