Maven Securities LTD Acquires New Shares in RB Global, Inc. $RBA

Key Points

• Maven Securities LTD acquired a new position in RB Global, purchasing 4,500 shares valued at approximately $451,000 during the first quarter.
• RB Global's stock has an average price target of $119.79 with four analysts rating it as a Buy and three as Hold.
• The company announced a quarterly dividend increase to $0.31, with a yield of 1.1%, and plans to pay shareholders on September 18th.

Maven Securities LTD acquired a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,500 shares of the business services provider's stock, valued at approximately $451,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RBA. SouthState Corp acquired a new position in shares of RB Global in the first quarter valued at $26,000. CoreCap Advisors LLC increased its holdings in RB Global by 74.5% in the 4th 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. raised its stake in shares of RB Global by 5,560.0% in the 1st 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 in the last quarter. IFP Advisors Inc lifted its holdings in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after acquiring an additional 279 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of RB Global by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after acquiring an additional 104 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Royal Bank Of Canada raised their target price on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. BMO Capital Markets increased their price objective on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Raymond James Financial boosted their target price on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $119.79.

Insider Buying and Selling

In other news, insider Darren Jeffrey Watt sold 7,400 shares of RB Global stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the sale, the insider owned 24,874 shares in the company, valued at $2,736,140. The trade was a 22.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Adam Dewitt sold 800 shares of the business's 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 $84,936.00. Following the sale, the director directly owned 5,865 shares of the company's stock, valued at approximately $622,687.05. This trade represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,558 shares of company stock worth $6,314,145 over the last three months. 4.32% of the stock is currently owned by company insiders.

RB Global Price Performance

Shares of NYSE RBA traded up $0.63 during trading on Friday, reaching $116.32. The company had a trading volume of 484,658 shares, compared to its average volume of 1,062,590. RB Global, Inc. has a 52 week low of $78.08 and a 52 week high of $118.23. The business's 50 day moving average price is $109.18 and its 200-day moving average price is $103.40. The stock has a market cap of $21.58 billion, a PE ratio of 57.58, a PEG ratio of 2.69 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.95 by $0.12. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. RB Global's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. Analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be given a $0.31 dividend. The ex-dividend date is Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global's dividend payout ratio is 57.43%.

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.