RB Global, Inc. $RBA Shares Purchased by Wilson Asset Management International PTY Ltd.

Key Points

• Wilson Asset Management increased its stake in RB Global by 8.5% to 139,295 shares (about $14.3M), making RBA its 10th-largest holding.
• RB Global beat quarterly estimates, reporting $1.01 EPS vs $0.97 expected and $1.21B revenue vs $1.13B expected, with revenue up 11.4% year-over-year.
• The company announced a quarterly dividend of $0.31 ($1.24 annual, 1.2% yield) and analysts remain mostly bullish, with a consensus "Moderate Buy" and a $125 average price target.

Wilson Asset Management International PTY Ltd. increased its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 139,295 shares of the business services provider's stock after purchasing an additional 10,951 shares during the period. RB Global makes up 3.7% of Wilson Asset Management International PTY Ltd.'s holdings, making the stock its 10th largest position. Wilson Asset Management International PTY Ltd. owned approximately 0.07% of RB Global worth $14,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its stake in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock worth $54,000 after purchasing an additional 97 shares during the period. Coldstream Capital Management Inc. boosted its position in RB Global by 5.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider's stock worth $221,000 after acquiring an additional 105 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in RB Global by 12.9% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider's stock worth $102,000 after acquiring an additional 107 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in RB Global by 41.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock worth $37,000 after acquiring an additional 107 shares during the last quarter. Finally, Sigma Planning Corp boosted its position in RB Global by 1.4% during the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider's stock worth $866,000 after acquiring an additional 114 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RB Global

In other news, Director Deborah Stein bought 400 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was acquired at an average cost of $98.74 per share, for a total transaction of $39,496.00. Following the purchase, the director owned 1,400 shares of the company's stock, valued at approximately $138,236. This trade represents a 40.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of recent research reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday. Weiss Ratings raised RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 26th. Raymond James Financial upped their price target on RB Global from $135.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 20th. Royal Bank Of Canada increased their price objective on shares of RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Stephens restated an "equal weight" rating and set a $96.00 price objective on shares of RB Global in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $125.00.

RB Global Trading Up 1.5%

NYSE RBA opened at $106.55 on Wednesday. The company has a market cap of $19.81 billion, a PE ratio of 49.56, a PEG ratio of 1.60 and a beta of 0.57. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. RB Global, Inc. has a 12 month low of $93.58 and a 12 month high of $119.58. The stock has a 50 day moving average of $100.87 and a 200-day moving average of $103.41.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 12.39% and a net margin of 9.55%.The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, equities research analysts anticipate that RB Global, Inc. will post 4.04 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 27th. RB Global's dividend payout ratio is presently 60.78%.

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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