Lbp Am Sa Increases Stock Holdings in RB Global, Inc. (NYSE:RBA)

LBP AM SA boosted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 51.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,128 shares of the business services provider's stock after purchasing an additional 12,995 shares during the period. LBP AM SA's holdings in RB Global were worth $3,824,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after buying an additional 358,752 shares during the period. Geode Capital Management LLC increased its position in RB Global by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock valued at $357,434,000 after purchasing an additional 264,778 shares during the period. Janus Henderson Group PLC increased its position in RB Global by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock valued at $307,033,000 after purchasing an additional 19,895 shares during the period. Boston Partners increased its position in RB Global by 6.9% during the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider's stock valued at $298,500,000 after purchasing an additional 214,181 shares during the period. Finally, FMR LLC increased its position in shares of RB Global by 137.5% during the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after buying an additional 1,623,429 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In related news, insider Darren Jeffrey Watt sold 3,700 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $392,829.00. Following the sale, the insider directly owned 24,874 shares of the company's stock, valued at $2,640,872.58. This trade represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $106.96, for a total transaction of $213,920.00. Following the completion of the sale, the executive owned 14,167 shares in the company, valued at $1,515,302.32. This represents a 12.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,075 shares of company stock valued at $2,007,349. 4.32% of the stock is currently owned by company insiders.

RB Global Stock Up 0.4%

Shares of NYSE RBA traded up $0.42 during trading on Friday, reaching $108.11. The company had a trading volume of 1,019,120 shares, compared to its average volume of 956,955. RB Global, Inc. has a 12-month low of $70.38 and a 12-month high of $109.25. The stock has a market cap of $20.02 billion, a PE ratio of 53.26, a P/E/G ratio of 2.46 and a beta of 0.77. The business's 50-day moving average is $105.72 and its 200 day moving average is $98.98. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $0.90 EPS. RB Global's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, May 29th. RB Global's payout ratio is 57.14%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RBA. Royal Bank Of Canada set a $125.00 price target on shares of RB Global and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. National Bankshares reduced their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Robert W. Baird upped their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, RB Global has an average rating of "Moderate Buy" and an average target price of $115.79.

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.