Nykredit A S Takes Position in RB Global, Inc. $RBA

Key Points

• Nykredit A/S acquired 50,389 shares of RB Global during the second quarter, valued at approximately $5.9 million. Institutional investors and hedge funds collectively own 95.37% of the company.
• RB Global reported quarterly EPS of $1.13, exceeding the $1.09 analyst consensus, while revenue reached $1.66 billion versus estimates of $1.21 billion. The company also increased its quarterly dividend from $0.31 to $0.33 per share.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $127.57, despite some recent downgrades and target-price reductions. Shares opened at $83.67, well below their 52-week high of $119.33.

Nykredit A S bought a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 50,389 shares of the business services provider's stock, valued at approximately $5,864,000.

A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of RB Global in the second quarter worth $1,816,059,000. Jupiter Topco LLC bought a new position in RB Global during the 2nd quarter worth $514,871,000. Norges Bank acquired a new position in RB Global during the 4th quarter worth about $231,813,000. Lazard Asset Management LLC acquired a new position in RB Global during the 1st quarter worth about $210,091,000. Finally, Wellington Management Group LLP bought a new stake in shares of RB Global in the 2nd quarter valued at about $201,813,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other RB Global news, Director Chloe Harford purchased 1,200 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the transaction, the director owned 1,200 shares of the company's stock, valued at $100,488. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deborah Stein bought 500 shares of the stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average price of $80.91 per share, for a total transaction of $40,455.00. Following the completion of the purchase, the director directly owned 2,325 shares in the company, valued at approximately $188,115.75. This trade represents a 27.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.57% of the company's stock.

RB Global Stock Performance

Shares of RBA opened at $83.67 on Tuesday. The firm has a market capitalization of $15.17 billion, a P/E ratio of 35.91, a P/E/G ratio of 1.42 and a beta of 0.52. RB Global, Inc. has a 52 week low of $79.75 and a 52 week high of $119.33. The stock has a 50 day moving average price of $94.04 and a two-hundred day moving average price of $100.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities analysts forecast that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th were issued a $0.33 dividend. This is a boost from RB Global's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 25th. RB Global's dividend payout ratio is currently 56.65%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RBA shares. Zacks Research downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Barclays decreased their target price on shares of RB Global from $124.00 to $121.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. National Bank Financial lowered their price target on shares of RB Global from $133.00 to $130.00 and set a "sector outperform" rating for the company in a report on Monday, September 14th. Finally, Royal Bank Of Canada upped their price objective on shares of RB Global from $150.00 to $152.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $127.57.

About RB Global

RB Global, Inc NYSE: RBA operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.

Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.

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