Russell Investments Group Ltd. Has $6.07 Million Position in RB Global, Inc. $RBA

Key Points

• Russell Investments Group Ltd. increased its stake in RB Global, acquiring an additional 8,675 shares, bringing its total holdings to 60,717 shares valued at approximately $6,069,000.
• RB Global recently reported a quarterly EPS of $1.07, surpassing estimates, and declared a dividend increase from $0.29 to $0.31, with a dividend yield of 1.1%.
• Several analysts have raised their price targets for RB Global, with the consensus target price now at $119.79 and an average rating of "Moderate Buy."

Russell Investments Group Ltd. increased its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 16.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,717 shares of the business services provider's stock after purchasing an additional 8,675 shares during the period. Russell Investments Group Ltd.'s holdings in RB Global were worth $6,069,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RBA. Barclays PLC lifted its holdings in shares of RB Global by 162.8% during the 4th quarter. Barclays PLC now owns 102,717 shares of the business services provider's stock valued at $9,267,000 after purchasing an additional 63,624 shares in the last quarter. Marshall Wace LLP bought a new position in shares of RB Global during the 4th quarter valued at about $640,000. First Trust Advisors LP lifted its holdings in shares of RB Global by 15.9% during the 4th quarter. First Trust Advisors LP now owns 30,783 shares of the business services provider's stock valued at $2,777,000 after purchasing an additional 4,224 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of RB Global by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 582,178 shares of the business services provider's stock valued at $52,519,000 after purchasing an additional 71,354 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of RB Global by 28.7% during the 4th quarter. MML Investors Services LLC now owns 13,179 shares of the business services provider's stock valued at $1,189,000 after purchasing an additional 2,938 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Stock Up 0.5%

Shares of NYSE:RBA traded up $0.63 during trading on Friday, hitting $116.32. 484,658 shares of the company were exchanged, compared to its average volume of 1,062,590. The stock has a market cap of $21.58 billion, a price-to-earnings ratio of 57.58, a P/E/G ratio of 2.71 and a beta of 0.75. RB Global, Inc. has a fifty-two week low of $78.08 and a fifty-two week high of $118.23. The firm has a fifty day moving average price of $109.18 and a two-hundred day moving average price of $103.50. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46.

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 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.31 per share. This is a positive change from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global's payout ratio is presently 57.43%.

Analyst Upgrades and Downgrades

RBA has been the topic of several recent analyst reports. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. CIBC boosted their target price on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research note on Friday, July 18th. Raymond James Financial boosted their target price on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Robert W. Baird boosted their target price on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets boosted their target price on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.79.

Insiders Place Their Bets

In other RB Global news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $84,936.00. Following the transaction, the director owned 5,865 shares of the company's stock, valued at $622,687.05. The trade was a 12.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $5,022,380.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,558 shares of company stock valued at $6,314,145 in the last 90 days. 4.32% of the stock is currently owned by 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.