Legal & General Group Plc Purchases 29,368 Shares of RB Global, Inc. $RBA

Key Points

• Legal & General Group Plc increased its RB Global stake by 3.0% in the fourth quarter, buying 29,368 additional shares and ending with 1,007,640 shares valued at about $103.8 million.
• RB Global reported strong quarterly results, with EPS of $1.01 and revenue of $1.21 billion, both above analyst expectations. Revenue rose 11.4% year over year.
• The company also declared a quarterly dividend of $0.31 per share, payable June 18, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $126.13.

Legal & General Group Plc boosted its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,007,640 shares of the business services provider's stock after purchasing an additional 29,368 shares during the quarter. Legal & General Group Plc owned about 0.54% of RB Global worth $103,845,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RBA. AQR Capital Management LLC boosted its position in RB Global by 94.3% during the first quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider's stock worth $1,031,000 after purchasing an additional 5,090 shares during the period. NewEdge Advisors LLC boosted its position in RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider's stock worth $59,000 after purchasing an additional 204 shares during the period. Jones Financial Companies Lllp boosted its position in RB Global by 857.9% during the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider's stock worth $375,000 after purchasing an additional 3,346 shares during the period. Goldman Sachs Group Inc. boosted its position in RB Global by 35.6% during the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider's stock worth $33,940,000 after purchasing an additional 88,813 shares during the period. Finally, Woodline Partners LP bought a new stake in RB Global during the first quarter worth approximately $4,103,000. Institutional investors own 95.37% of the company's stock.

RB Global Stock Up 1.9%

Shares of RBA stock opened at $105.87 on Friday. The stock has a market cap of $19.68 billion, a P/E ratio of 49.24, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The stock has a fifty day moving average price of $101.79 and a 200 day moving average price of $103.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.RB Global's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $0.89 earnings per share. Analysts predict that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 27th. RB Global's dividend payout ratio (DPR) is 57.67%.

Insider Buying and Selling

In other news, Director Deborah Stein bought 425 shares of RB Global stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares in the company, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RBA shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of RB Global in a research report on Tuesday. Stephens reaffirmed an "equal weight" rating and set a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. BMO Capital Markets reaffirmed an "outperform" rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their target price on RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Finally, Barclays initiated coverage on RB Global in a research report on Thursday. They set an "overweight" rating and a $124.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, RB Global currently has an average rating of "Moderate Buy" and a consensus price target of $126.13.

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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