Shell Asset Management Co. Acquires 21,095 Shares of RB Global, Inc. $RBA

Shell Asset Management Co. boosted its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 330.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,471 shares of the business services provider's stock after purchasing an additional 21,095 shares during the quarter. Shell Asset Management Co.'s holdings in RB Global were worth $2,913,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. QRG Capital Management Inc. grew its stake in RB Global by 122.2% in the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock valued at $770,000 after acquiring an additional 4,222 shares during the period. GAMMA Investing LLC grew its stake in RB Global by 28.6% in the first quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock valued at $161,000 after acquiring an additional 358 shares during the period. Voya Investment Management LLC grew its stake in RB Global by 12.8% in the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider's stock valued at $3,389,000 after acquiring an additional 3,847 shares during the period. Nisa Investment Advisors LLC grew its stake in RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock valued at $106,000 after acquiring an additional 104 shares during the period. Finally, Kathmere Capital Management LLC acquired a new stake in RB Global in the second quarter valued at approximately $476,000. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on RBA. Raymond James Financial raised their price objective on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. CIBC lifted their target price on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. Royal Bank Of Canada lifted their target price on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. BMO Capital Markets lifted their target price on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, RB Global has an average rating of "Moderate Buy" and a consensus target price of $124.33.

RB Global Stock Performance

Shares of RB Global stock opened at $105.76 on Wednesday. The business's fifty day simple moving average is $113.47 and its 200 day simple moving average is $106.85. The firm has a market capitalization of $19.63 billion, a P/E ratio of 52.35, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65. RB Global, Inc. has a 12 month low of $78.55 and a 12 month high of $119.58. 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 issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. The business 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%.RB Global's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. As a group, analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were paid a $0.31 dividend. The ex-dividend date was Thursday, August 28th. This is a boost from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global's dividend payout ratio is presently 61.39%.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction 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 sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 7,400 shares of the business's stock in a transaction on 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 sale, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. The trade was a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,209 shares of company stock worth $6,090,521 over the last ninety days. 0.28% of the stock is currently owned by company insiders.

RB Global Company 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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