Riverbridge Partners LLC Has $122.25 Million Stock Position in RB Global, Inc. $RBA

Key Points

• Riverbridge Partners LLC reduced its RB Global stake by 15.1% in the first quarter, selling 225,982 shares and ending with 1,275,384 shares valued at about $122.25 million.
• Analyst sentiment remains mostly positive: seven analysts rate RB Global a Buy, one rates it Hold, and the consensus target price is $126.12.
• RB Global recently beat quarterly expectations, posting $1.01 EPS on $1.21 billion in revenue, while also paying a quarterly dividend of $0.31 per share for a 1.1% annualized yield.

Riverbridge Partners LLC decreased its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,275,384 shares of the business services provider's stock after selling 225,982 shares during the quarter. RB Global makes up about 3.0% of Riverbridge Partners LLC's investment portfolio, making the stock its 4th largest position. Riverbridge Partners LLC owned 0.69% of RB Global worth $122,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of RBA. SG Americas Securities LLC bought a new position in shares of RB Global during the first quarter valued at $2,277,000. Bayban bought a new stake in shares of RB Global in the 4th quarter worth about $34,000. MidFirst Bank acquired a new stake in shares of RB Global during the 4th quarter worth about $6,834,000. MV Capital Management Inc. bought a new position in RB Global during the 4th quarter valued at about $29,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in RB Global by 6,120,490.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider's stock valued at $251,851,000 after buying an additional 2,448,196 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on RBA. Barclays started coverage on shares of RB Global in a research note on Thursday, May 28th. They set an "overweight" rating and a $124.00 price objective on the stock. Stephens reissued an "equal weight" rating and issued a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. BMO Capital Markets restated 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of RB Global in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada lifted their price objective on RB Global from $146.00 to $150.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, RB Global has an average rating of "Moderate Buy" and an average target price of $126.12.

Insider Activity at RB Global

In other news, Director Deborah Stein bought 425 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the purchase, the director owned 1,825 shares of the company's stock, valued at approximately $188,248.75. This represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.57% of the company's stock.

RB Global Price Performance

Shares of RBA stock opened at $108.49 on Wednesday. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58. The firm's 50 day moving average is $105.22 and its 200-day moving average is $104.96. The firm has a market capitalization of $20.17 billion, a price-to-earnings ratio of 50.46, a PEG ratio of 1.73 and a beta of 0.57. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40.

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

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global's dividend payout ratio (DPR) is presently 57.67%.

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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