RB Global, Inc. $RBA Stock Position Lifted by Atria Investments Inc

Key Points

• Atria Investments Inc increased its RB Global stake by 49.8% in the fourth quarter, ending with 34,436 shares valued at about $3.54 million.
• Several other institutional investors also boosted positions, and overall institutional ownership remains high at 95.37% of the company’s stock.
• RB Global beat quarterly expectations with EPS of $1.01 and revenue of $1.21 billion, while analysts remain broadly positive with an average Moderate Buy rating and a $126.43 price target.

Atria Investments Inc grew its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 49.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,436 shares of the business services provider's stock after buying an additional 11,453 shares during the period. Atria Investments Inc's holdings in RB Global were worth $3,542,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RBA. AQR Capital Management LLC lifted its holdings in shares of RB Global by 94.3% in the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider's stock worth $1,031,000 after purchasing an additional 5,090 shares during the last quarter. NewEdge Advisors LLC increased its position in RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider's stock valued at $59,000 after acquiring an additional 204 shares during the period. Jones Financial Companies Lllp increased its position in RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider's stock valued at $375,000 after acquiring an additional 3,346 shares during the period. Goldman Sachs Group Inc. increased its position in shares of RB Global by 35.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider's stock valued at $33,940,000 after purchasing an additional 88,813 shares during the period. Finally, Woodline Partners LP acquired a new position in shares of RB Global during the 1st quarter valued at $4,103,000. Institutional investors own 95.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings upgraded RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 26th. BMO Capital Markets reiterated 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, May 5th. 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. Raymond James Financial lifted their target price on RB Global from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada raised their target price on RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $126.43.

RB Global Trading Down 0.1%

RB Global stock opened at $101.95 on Monday. 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 business's 50-day simple moving average is $101.37 and its 200-day simple moving average is $103.57. The firm has a market capitalization of $18.95 billion, a PE ratio of 47.42, a PEG ratio of 1.63 and a beta of 0.57. RB Global, Inc. has a 52 week low of $93.58 and a 52 week high of $119.58.

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 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. Equities research analysts forecast that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, May 27th. RB Global's payout ratio is currently 57.67%.

Insider Transactions at RB Global

In related news, Director Deborah Stein acquired 400 shares of the firm's stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of $98.74 per share, with a total value of $39,496.00. Following the completion of the acquisition, the director owned 1,400 shares of the company's stock, valued at $138,236. This trade represents a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is 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.

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