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Lbp Am Sa Grows Stock Position in RB Global, Inc. (NYSE:RBA)

RB Global logo with Business Services background

LBP AM SA boosted its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 51.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RBA. CoreCap Advisors LLC increased its stake in shares of RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after buying an additional 117 shares during the period. MV Capital Management Inc. increased its stake in shares of RB Global by 5,560.0% in the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after buying an additional 278 shares during the period. Jones Financial Companies Lllp increased its stake in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after buying an additional 129 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in shares of RB Global in the fourth quarter valued at about $59,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of RB Global in the fourth quarter valued at about $111,000. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Stock Up 1.4%

Shares of RBA stock traded up $1.52 during trading hours on Monday, reaching $109.68. The company had a trading volume of 1,206,945 shares, compared to its average volume of 959,221. RB Global, Inc. has a 12 month low of $70.38 and a 12 month high of $111.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. The business has a fifty day simple moving average of $105.72 and a 200-day simple moving average of $99.09. The company has a market cap of $20.31 billion, a price-to-earnings ratio of 54.03, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77.

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

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Thursday, May 29th. RB Global's payout ratio is 57.14%.

Insiders Place Their Bets

In related news, insider Darren Jeffrey Watt sold 3,700 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 24,874 shares of the company's stock, valued at approximately $2,640,872.58. This trade represents a 12.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew John Fesler sold 9,075 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total value of $950,334.00. Following the sale, the insider directly owned 5,532 shares of the company's stock, valued at $579,311.04. The trade was a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,075 shares of company stock valued at $2,007,349. Insiders own 4.32% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RBA. CIBC increased their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Royal Bank Of Canada set a $125.00 target price on RB Global and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Robert W. Baird increased their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, RB Global presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.79.

Get Our Latest Analysis on RBA

RB Global Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for RB Global (NYSE:RBA)

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