RB Global, Inc. $RBA Shares Acquired by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management increased its stake in RB Global by 52.3% in the first quarter, buying an additional 43,975 shares and bringing its total holdings to 128,100 shares worth about $12.28 million.
• RB Global reported better-than-expected quarterly earnings of $1.01 per share, though revenue of $888.01 million came in below analyst estimates; revenue still rose 11.4% year over year.
• The company recently paid a quarterly dividend of $0.31 per share, while analysts remain generally bullish with a consensus rating of Buy and an average price target of $127.12.

Hillsdale Investment Management Inc. lifted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 52.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,100 shares of the business services provider's stock after purchasing an additional 43,975 shares during the period. Hillsdale Investment Management Inc. owned about 0.07% of RB Global worth $12,282,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. MV Capital Management Inc. purchased a new stake in RB Global in the 4th quarter valued at approximately $29,000. Bayban purchased a new position in RB Global during the fourth quarter worth $34,000. Central Pacific Bank Trust Division increased its position in RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock worth $37,000 after buying an additional 107 shares in the last quarter. State of Wyoming acquired a new position in shares of RB Global in the second quarter worth $46,000. Finally, Nemes Rush Group LLC acquired a new position in shares of RB Global in the fourth quarter worth $54,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Trading Up 0.6%

Shares of RB Global stock opened at $108.83 on Tuesday. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The firm has a market cap of $20.23 billion, a PE ratio of 50.62, a P/E/G ratio of 1.69 and a beta of 0.55. The business's fifty day moving average is $107.51 and its two-hundred day moving average is $105.95. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. The business had revenue of $888.01 million for the quarter, compared to analysts' expectations of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The business's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. Analysts anticipate that RB Global, Inc. will post 4.16 earnings per share for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global's dividend payout ratio is currently 57.67%.

Analyst Ratings Changes

RBA has been the topic of a number of analyst reports. Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Royal Bank Of Canada lifted their price objective on RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Raymond James Financial raised shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 target price for the company in a research note on Tuesday, June 30th. Stephens restated an "equal weight" rating and issued a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. Finally, Zacks Research raised shares of RB Global from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $127.12.

Insider Buying and Selling at RB Global

In related news, Director Deborah Stein acquired 425 shares of the business's stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the acquisition, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

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.

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