RB Global, Inc. (NYSE:RBA) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 122.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,678 shares of the business services provider's stock after acquiring an additional 4,222 shares during the period. QRG Capital Management Inc.'s holdings in RB Global were worth $770,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in RBA. CoreCap Advisors LLC raised its position in RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after purchasing an additional 117 shares during the period. MV Capital Management Inc. raised its holdings 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 during the period. Jones Financial Companies Lllp lifted its stake in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after acquiring an additional 129 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in RB Global during the 4th quarter valued at about $36,000. Finally, Whipplewood Advisors LLC acquired a new position in RB Global in the 4th quarter valued at about $37,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. CIBC raised their price target on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Raymond James Financial increased their price objective on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, National Bankshares lowered their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $114.50.

Insider Activity

In related news, CRO James J. Jeter sold 3,500 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $104.38, for a total value of $365,330.00. Following the completion of the sale, the executive now directly owns 16,167 shares of the company's stock, valued at $1,687,511.46. The trade was a 17.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director now directly owns 5,865 shares in the company, valued at approximately $622,687.05. The trade was a 12.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,075 shares of company stock worth $2,007,349. Corporate insiders own 4.32% of the company's stock.

RB Global Stock Down 0.9%

RB Global stock traded down $0.91 during midday trading on Wednesday, reaching $104.70. The company's stock had a trading volume of 1,290,777 shares, compared to its average volume of 973,624. The business has a 50-day simple moving average of $103.96 and a 200-day simple moving average of $97.94. The company has a market cap of $19.39 billion, a P/E ratio of 51.58, a P/E/G ratio of 3.76 and a beta of 0.78. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $109.25. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. On average, research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. RB Global's dividend payout ratio is presently 57.14%.

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.