RB Global, Inc. (NYSE:RBA) Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. has increased its position in RB Global, Inc. (NYSE:RBA) by 26.9%, owning 2,436,296 shares valued at $244.36 million as of the end of the last quarter.
• RB Global reported quarterly earnings of $1.07 EPS, exceeding analysts' expectations, with revenue increasing by 8.2% year-over-year to $1.20 billion.
• The company recently announced a dividend increase to $0.31 per share, reflecting a commitment to returning value to shareholders.

Invesco Ltd. lifted its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 26.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,436,296 shares of the business services provider's stock after acquiring an additional 516,865 shares during the quarter. Invesco Ltd. owned 1.32% of RB Global worth $244,360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of RBA. QRG Capital Management Inc. grew its stake in shares of RB Global by 122.2% during the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock worth $770,000 after purchasing an additional 4,222 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of RB Global by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider's stock worth $9,376,000 after purchasing an additional 8,723 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of RB Global by 28.6% during the first quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock worth $161,000 after purchasing an additional 358 shares in the last quarter. Mariner LLC grew its stake in shares of RB Global by 32.4% during the fourth quarter. Mariner LLC now owns 48,124 shares of the business services provider's stock worth $4,341,000 after purchasing an additional 11,767 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of RB Global by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Transactions at RB Global

In other news, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the transaction, the director directly owned 5,865 shares of the company's stock, valued at $622,687.05. This trade represents a 12.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the sale, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,558 shares of company stock valued at $6,314,145 in the last ninety days. Corporate insiders own 4.32% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. National Bankshares boosted their target price on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Robert W. Baird boosted their target price on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 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. Finally, BMO Capital Markets upped their price objective on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.79.

RB Global Stock Performance

NYSE RBA traded down $2.30 during trading hours on Friday, hitting $115.13. 1,221,840 shares of the stock were exchanged, compared to its average volume of 1,055,790. RB Global, Inc. has a 12-month low of $78.08 and a 12-month high of $118.23. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. The company has a market cap of $21.36 billion, a price-to-earnings ratio of 57.00, a price-to-earnings-growth ratio of 2.66 and a beta of 0.75. The stock has a 50-day moving average of $108.31 and a 200 day moving average of $102.60.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) 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 company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the company posted $0.94 earnings per share. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.31 per share. This is a positive change from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global's dividend payout ratio is 57.43%.

RB Global Company Profile

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.