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. raised its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,200 shares of the business services provider's stock after buying 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.

A number of other hedge funds have also made changes to their positions in RBA. QRG Capital Management Inc. increased its stake in RB Global by 122.2% in the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock valued at $770,000 after purchasing an additional 4,222 shares during the last quarter. GAMMA Investing LLC grew its position in shares of RB Global by 28.6% in the 1st quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock valued at $161,000 after buying an additional 358 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in RB Global by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after acquiring an additional 104 shares in the last quarter. Voya Investment Management LLC lifted its position in RB Global by 12.8% in the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider's stock valued at $3,389,000 after acquiring an additional 3,847 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in RB Global by 24.0% in the fourth quarter. Vident Advisory LLC now owns 3,585 shares of the business services provider's stock valued at $323,000 after acquiring an additional 693 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on RBA shares. National Bankshares boosted their target price on RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price objective on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. BMO Capital Markets lifted their target price on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Raymond James Financial upped their price target on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, CIBC raised their price objective on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $124.33.

RB Global Stock Performance

NYSE RBA traded down $1.21 on Tuesday, hitting $113.61. 128,430 shares of the company's stock were exchanged, compared to its average volume of 1,079,895. The firm has a market cap of $21.09 billion, a price-to-earnings ratio of 56.43, a P/E/G ratio of 2.76 and a beta of 0.65. The firm's 50-day moving average price is $113.54 and its two-hundred day moving average price is $106.09. 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 current ratio of 1.28 and a quick ratio of 1.22.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. RB Global's quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.1%. This is a positive change from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, August 28th. RB Global's dividend payout ratio is currently 61.39%.

Insider Activity

In related news, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $5,022,380.00. Following the sale, the chief executive officer directly owned 107,569 shares in the company, valued at $11,832,590. The trade was a 29.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm'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. Insiders sold a total of 55,209 shares of company stock worth $6,090,521 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

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.