MidFirst Bank Takes Position in RB Global, Inc. $RBA

Key Points

• MidFirst Bank purchased 68,523 shares of RB Global during the second quarter, valued at approximately $7.98 million. Institutional investors collectively own 95.37% of the company.
• RB Global exceeded quarterly earnings expectations, reporting $1.13 in EPS versus the $1.09 consensus and $1.66 billion in revenue versus the $1.21 billion estimate.
• The company raised its quarterly dividend from $0.31 to $0.33 per share, equivalent to a $1.32 annualized payout and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus with a $128 average price target.

MidFirst Bank purchased a new position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 68,523 shares of the business services provider's stock, valued at approximately $7,980,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBA. J.Safra Asset Management Corp purchased a new stake in RB Global during the 2nd quarter worth approximately $32,000. MV Capital Management Inc. purchased a new position in shares of RB Global during the 4th quarter valued at approximately $29,000. Bayban acquired a new stake in shares of RB Global during the fourth quarter worth approximately $34,000. State of Wyoming acquired a new stake in shares of RB Global during the second quarter worth approximately $46,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of RB Global in the first quarter worth $43,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

Shares of RBA opened at $82.12 on Tuesday. The business's fifty day moving average price is $107.35 and its 200 day moving average price is $104.96. RB Global, Inc. has a 12-month low of $82.03 and a 12-month high of $119.58. The stock has a market capitalization of $15.20 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 1.44 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. Equities research analysts forecast that RB Global, Inc. will post 4.06 EPS 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 issued a $0.33 dividend. This is a boost from RB Global's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. RB Global's dividend payout ratio (DPR) is presently 53.22%.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of research analyst reports. Zacks Research downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of RB Global in a research report on Wednesday, August 5th. National Bank Financial upped their target price on shares of RB Global from $132.00 to $133.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of RB Global from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. Finally, Raymond James Financial upgraded RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price target for the company in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $128.00.

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.

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