Montrusco Bolton Investments Inc. Invests $19.72 Million in RB Global, Inc. $RBA

Key Points

• Montrusco Bolton Investments Inc. invested approximately $19.72 million in RB Global, acquiring 185,971 shares during the 2nd quarter.
• RB Global reported a net margin of 9.46% for the quarter with revenue of $1.20 billion, surpassing analyst expectations by $60 million.
• The company has increased its quarterly dividend to $0.31 per share, reflecting a yield of 1.2% and a dividend payout ratio of 61.39%.

Montrusco Bolton Investments Inc. purchased a new position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 185,971 shares of the business services provider's stock, valued at approximately $19,717,000. Montrusco Bolton Investments Inc. owned approximately 0.10% of RB Global at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. MGO One Seven LLC lifted its stake in shares of RB Global by 30.8% in the second quarter. MGO One Seven LLC now owns 3,408 shares of the business services provider's stock worth $362,000 after buying an additional 803 shares in the last quarter. CWM LLC lifted its stake in shares of RB Global by 9.2% in the second quarter. CWM LLC now owns 2,155 shares of the business services provider's stock worth $229,000 after buying an additional 181 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of RB Global by 16.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,739 shares of the business services provider's stock worth $2,308,000 after buying an additional 3,042 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of RB Global by 6.5% in the second quarter. Blue Trust Inc. now owns 2,110 shares of the business services provider's stock worth $224,000 after buying an additional 129 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of RB Global by 66.6% in the second quarter. IFP Advisors Inc now owns 598 shares of the business services provider's stock worth $64,000 after buying an additional 239 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of RBA opened at $104.00 on Monday. RB Global, Inc. has a 1-year low of $78.55 and a 1-year high of $119.58. The stock has a market cap of $19.31 billion, a PE ratio of 51.49, a P/E/G ratio of 2.42 and a beta of 0.65. The firm has a 50-day simple moving average of $113.23 and a two-hundred day simple moving average of $106.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22.

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

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from RB Global's previous quarterly dividend of $0.29. The ex-dividend date was Thursday, August 28th. RB Global's dividend payout ratio (DPR) is presently 61.39%.

Wall Street Analysts Forecast Growth

RBA has been the topic of several research reports. CIBC raised their price target on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research note on Friday, July 18th. Weiss Ratings raised shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. National Bankshares reduced their target price on shares of RB Global from $113.00 to $111.00 and set a "sector perform" rating on the stock in a research note on Thursday. Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Royal Bank Of Canada lifted their target price on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $124.00.

Insider Buying and Selling at RB Global

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.28% of the company's stock.

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.

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.