SG Americas Securities LLC Acquires Shares of 23,757 RB Global, Inc. $RBA

Key Points

• SG Americas Securities LLC initiated a new stake in RB Global, buying 23,757 shares in the first quarter worth about $2.28 million.
• RB Global has seen continued interest from institutions, and analysts remain broadly positive, with a consensus rating of “Buy” and an average price target of $126.12.
• The company recently reported strong quarterly results, including EPS of $1.01 versus $0.97 expected and revenue of $1.21 billion, while also paying a quarterly dividend of $0.31 per share.

SG Americas Securities LLC bought a new stake in 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 firm bought 23,757 shares of the business services provider's stock, valued at approximately $2,277,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in RB Global by 11.6% in the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider's stock valued at $96,000 after acquiring an additional 97 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after purchasing an additional 97 shares during the period. Coldstream Capital Management Inc. lifted 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 valued at $221,000 after purchasing an additional 105 shares during the period. Central Pacific Bank Trust Division boosted its stake in shares of RB Global by 41.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock valued at $37,000 after purchasing an additional 107 shares during the last quarter. Finally, Sigma Planning Corp boosted its stake in shares of RB Global by 1.4% in the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider's stock valued at $866,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RBA. Royal Bank Of Canada boosted their price target on shares of RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Raymond James Financial raised shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 target price for the company in a report on Tuesday. BMO Capital Markets reiterated an "outperform" rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Barclays initiated coverage on RB Global in a research note on Thursday, May 28th. They issued an "overweight" rating and a $124.00 price target on the stock. Finally, Stephens reaffirmed an "equal weight" rating and set a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $126.12.

RB Global Stock Down 2.8%

RB Global stock opened at $113.16 on Thursday. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 1.82 and a beta of 0.55. The company's 50 day simple moving average is $106.51 and its 200 day simple moving average is $105.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results 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 firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, sell-side analysts anticipate that RB Global, Inc. will post 4.17 EPS for the current year.

RB Global Dividend Announcement

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

Insider Buying and Selling

In other RB Global news, Director Deborah Stein bought 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the acquisition, the director owned 1,825 shares in the company, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.57% of the company's stock.

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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