QV Investors Inc. Has $34.03 Million Stock Holdings in RB Global, Inc. $RBA

Key Points

• QV Investors reduced its RB Global stake by 4.8% in the second quarter, selling 14,720 shares but retaining 292,372 shares valued at approximately $34.03 million. Institutional investors collectively own 95.37% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $128, despite RB Global shares opening at $85.94 and trading near their 12-month low.
• RB Global reported quarterly adjusted earnings of $1.13 per share and revenue of $1.66 billion, exceeding estimates, while increasing its quarterly dividend from $0.31 to $0.33 per share.

QV Investors Inc. lessened its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 292,372 shares of the business services provider's stock after selling 14,720 shares during the period. RB Global comprises 2.6% of QV Investors Inc.'s holdings, making the stock its 16th biggest holding. QV Investors Inc. owned approximately 0.16% of RB Global worth $34,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBA. Public Employees Retirement System of Ohio raised its stake in shares of RB Global by 9.2% during the first quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider's stock valued at $19,873,000 after acquiring an additional 17,489 shares during the last quarter. Bank of America Corp DE boosted its position in RB Global by 7.8% during the first quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider's stock valued at $139,216,000 after acquiring an additional 104,560 shares during the last quarter. Wilson Asset Management International PTY Ltd. grew its holdings in RB Global by 8.5% during the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 139,295 shares of the business services provider's stock worth $14,329,000 after acquiring an additional 10,951 shares during the period. Legacy Wealth Asset Management LLC grew its position in shares of RB Global by 127.3% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider's stock worth $3,068,000 after buying an additional 14,755 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of RB Global in the 2nd quarter valued at $17,590,000. Institutional investors own 95.37% of the company's stock.

Analyst Ratings Changes

RBA has been the subject of a number of recent research reports. National Bank Financial boosted their price target 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. BMO Capital Markets reaffirmed an "outperform" rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Royal Bank Of Canada increased their price target on RB Global from $150.00 to $152.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Barclays dropped their price objective on RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Finally, Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two 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 $128.00.

RB Global Stock Down 0.1%

RB Global stock opened at $85.94 on Monday. The firm has a 50 day moving average price of $103.30 and a 200-day moving average price of $103.08. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. RB Global, Inc. has a twelve month low of $82.03 and a twelve month high of $119.58. The company has a market capitalization of $15.91 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.47 and a beta of 0.56.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.21 billion. As a group, equities analysts predict that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be issued a $0.33 dividend. This is an increase 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 yield of 1.5%. RB Global's payout ratio is 56.65%.

Insiders Place Their Bets

In other RB Global news, Director Chloe Harford acquired 1,200 shares of the company's stock in a transaction on Monday, August 24th. The shares were acquired at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the acquisition, the director directly owned 1,200 shares in the company, valued at $100,488. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% 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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