RB Global, Inc. $RBA Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management boosted its RB Global stake by 223% in the fourth quarter, buying 177,895 additional shares and bringing its total to 257,661 shares valued at about $26.5 million.
• Several analysts remain upbeat on the stock, with seven Buy ratings and one Hold; the consensus view is Moderate Buy with an average price target of $126.13.
• RB Global recently beat quarterly earnings and revenue estimates, reporting EPS of $1.01 on revenue of $1.21 billion, and it also announced a quarterly dividend of $0.31 per share.

Intech Investment Management LLC boosted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 223.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,661 shares of the business services provider's stock after acquiring an additional 177,895 shares during the period. Intech Investment Management LLC owned about 0.14% of RB Global worth $26,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in RB Global by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider's stock worth $2,744,455,000 after acquiring an additional 124,926 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in RB Global by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider's stock worth $1,120,479,000 after acquiring an additional 165,260 shares during the last quarter. Geode Capital Management LLC raised its position in RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider's stock worth $513,930,000 after acquiring an additional 250,887 shares during the last quarter. Fiera Capital Corp raised its position in RB Global by 4.9% during the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider's stock worth $440,353,000 after acquiring an additional 190,408 shares during the last quarter. Finally, Invesco Ltd. raised its position in RB Global by 17.7% during the third quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider's stock worth $310,293,000 after acquiring an additional 430,729 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RBA shares. Stephens restated an "equal weight" rating and set a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Barclays started coverage on shares of RB Global in a research report on Thursday. They set an "overweight" rating and a $124.00 target price for the company. BMO Capital Markets restated 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 lifted their target price on shares of RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of RB Global in a report on Tuesday. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.13.

Insider Buying and Selling at RB Global

In related news, Director Deborah Stein purchased 425 shares of the firm's stock in a transaction on Tuesday, May 19th. The shares were bought at an average price 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 $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by company insiders.

RB Global Price Performance

RB Global stock opened at $105.87 on Friday. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The firm has a 50 day moving average price of $101.79 and a 200 day moving average price of $103.89. The company has a market cap of $19.68 billion, a price-to-earnings ratio of 49.24, a PEG ratio of 1.66 and a beta of 0.57.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. RB Global's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. Sell-side analysts predict that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, May 27th. RB Global's dividend payout ratio (DPR) is 57.67%.

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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