RB Global, Inc. $RBA Shares Purchased by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in RB Global, Inc. by 4.4%, owning a total of 69,200 shares valued at $7.34 million after purchasing 2,900 additional shares during the second quarter.
• Several analysts have recently adjusted their ratings and price targets for RB Global, with CIBC raising its target from $118.00 to $121.00 and Royal Bank of Canada boosting it from $125.00 to $132.00, reflecting a generally positive outlook.
• RB Global reported a quarterly earnings per share (EPS) of $1.07, surpassing estimates, along with an annualized dividend increase to $1.24, indicating strong financial performance and shareholder returns.

Mn Services Vermogensbeheer B.V. boosted its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,200 shares of the business services provider's stock after purchasing an additional 2,900 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in RB Global were worth $7,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SouthState Corp bought a new stake in RB Global in the first quarter worth approximately $26,000. MV Capital Management Inc. raised its holdings in shares of RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after acquiring an additional 278 shares during the last quarter. SVB Wealth LLC purchased a new stake in RB Global during the 1st quarter worth about $28,000. IFP Advisors Inc grew its holdings in RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after acquiring an additional 279 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in RB Global in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RBA shares. CIBC raised their price target on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Royal Bank Of Canada boosted their price target on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets raised their target price on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.33.

RB Global Stock Up 0.9%

RB Global stock opened at $118.94 on Friday. The firm has a 50 day moving average price of $113.43 and a 200 day moving average price of $105.91. The company has a market capitalization of $22.07 billion, a PE ratio of 58.88, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65. RB Global, Inc. has a fifty-two week low of $78.08 and a fifty-two week high of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.95 by $0.12. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS. Research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were paid a $0.31 dividend. The ex-dividend date was Thursday, August 28th. This represents a $1.24 annualized dividend and a dividend yield of 1.0%. This is an increase from RB Global's previous quarterly dividend of $0.29. RB Global's dividend payout ratio is currently 61.39%.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the sale, the insider directly owned 24,874 shares of the company's stock, valued at $2,736,140. This represents a 22.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,209 shares of company stock valued at $6,090,521. 4.32% of the stock is currently owned by corporate insiders.

RB Global 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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