1,184,654 Shares in RB Global, Inc. $RBA Acquired by Samlyn Capital LLC

Key Points

• Samlyn Capital LLC acquired a significant stake in RB Global, Inc., purchasing 1,184,654 shares valued at approximately $118.8 million, which constitutes about 1.8% of its total portfolio.
• RB Global recently reported $1.07 earnings per share for the quarter, surpassing analysts' estimates, with quarterly revenue reaching $1.20 billion, an 8.2% year-over-year increase.
• The company has announced a quarterly dividend increase to $0.31 per share, reflecting an annual yield of 1.1% and a payout ratio of 61.39%.

Samlyn Capital LLC acquired a new stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,184,654 shares of the business services provider's stock, valued at approximately $118,821,000. RB Global accounts for approximately 1.8% of Samlyn Capital LLC's holdings, making the stock its 17th largest holding. Samlyn Capital LLC owned 0.64% of RB Global as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RBA. Securian Asset Management Inc. lifted its position in RB Global by 0.7% during the 1st quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock worth $1,408,000 after acquiring an additional 100 shares during the period. Nisa Investment Advisors LLC increased its position in RB Global by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after buying an additional 104 shares in the last quarter. Wealth Alliance LLC increased its position in RB Global by 2.7% during the first quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock worth $399,000 after buying an additional 104 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after purchasing an additional 117 shares during the last quarter. Finally, Fullcircle Wealth LLC boosted its holdings in shares of RB Global by 5.5% during the first quarter. Fullcircle Wealth LLC now owns 2,382 shares of the business services provider's stock worth $235,000 after purchasing an additional 124 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of RBA traded up $2.41 during mid-day trading on Thursday, hitting $118.60. 1,344,632 shares of the company traded hands, compared to its average volume of 1,072,333. RB Global, Inc. has a one year low of $78.08 and a one year high of $118.79. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average of $111.80 and a 200 day moving average of $105.12. The stock has a market capitalization of $22.01 billion, a price-to-earnings ratio of 58.71, a PEG ratio of 2.70 and a beta of 0.65.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. As a group, equities analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be issued a dividend of $0.31 per share. The ex-dividend date is Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.0%. RB Global's dividend payout ratio (DPR) is 61.39%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RBA shares. BMO Capital Markets boosted their price objective on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Raymond James Financial boosted their price target on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. CIBC upped their price target on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada upped their price objective on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $124.33.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 7,400 shares of RB Global stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the transaction, the insider owned 24,874 shares of the company's stock, valued at $2,736,140. This trade represents a 22.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the sale, the chief executive officer directly owned 107,569 shares of the company's stock, valued at $11,832,590. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.32% of the company's stock.

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.