QRG Capital Management Inc. Increases Stake in RB Global, Inc. (NYSE:RBA)

QRG Capital Management Inc. lifted its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 122.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 SEC filing.

Other large investors have also modified their holdings of the company. CoreCap Advisors LLC raised its holdings 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 buying an additional 117 shares during the period. MV Capital Management Inc. lifted its position in RB Global by 5,560.0% during the first 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. Jones Financial Companies Lllp lifted its position in RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after buying an additional 129 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in RB Global during the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC acquired a new position in RB Global during the fourth quarter valued at approximately $37,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Trading Up 0.2%

NYSE RBA opened at $104.77 on Friday. The company's fifty day simple moving average is $103.51 and its 200-day simple moving average is $97.78. RB Global, Inc. has a 52 week low of $70.38 and a 52 week high of $109.25. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The stock has a market cap of $19.40 billion, a P/E ratio of 51.61, a PEG ratio of 3.70 and a beta of 0.78.

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

RB Global Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.11%. RB Global's payout ratio is currently 57.14%.

Analyst Ratings Changes

RBA has been the topic of a number of recent research reports. CIBC lifted 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 Bankshares reduced their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird lifted their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Finally, Raymond James Financial lifted their price target on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

Insider Buying and Selling

In related news, CRO James J. Jeter sold 3,500 shares of RB Global 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 owns 16,167 shares in the company, valued at approximately $1,687,511.46. The trade was a 17.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction 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 completion of the sale, the director now owns 5,865 shares of the company's stock, valued at approximately $622,687.05. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,075 shares of company stock worth $2,007,349. Insiders own 4.32% 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.

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