Skandinaviska Enskilda Banken AB publ Has $2.73 Million Position in RB Global, Inc. (NYSE:RBA)

Key Points

• Skandinaviska Enskilda Banken AB increased its holdings in RB Global, Inc. by 27.7%, acquiring 5,905 additional shares, reaching a total of 27,206 shares valued at $2,729,000.
• RB Global's recent quarterly earnings met expectations with an earnings per share (EPS) of $0.89, while revenue grew by 4.1% year-over-year to $1.06 billion.
• The company announced a quarterly dividend of $0.29 per share, resulting in an annualized yield of 1.07% and a payout ratio of 57.14%.

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 27.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,206 shares of the business services provider's stock after buying an additional 5,905 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in RB Global were worth $2,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RBA. American Century Companies Inc. raised its holdings in shares of RB Global by 9.8% during the fourth quarter. American Century Companies Inc. now owns 48,079 shares of the business services provider's stock valued at $4,339,000 after buying an additional 4,303 shares during the last quarter. LPL Financial LLC raised its holdings in shares of RB Global by 2.1% during the fourth quarter. LPL Financial LLC now owns 70,325 shares of the business services provider's stock valued at $6,344,000 after buying an additional 1,462 shares during the last quarter. Korea Investment CORP raised its holdings in shares of RB Global by 90.3% during the fourth quarter. Korea Investment CORP now owns 99,702 shares of the business services provider's stock valued at $8,994,000 after buying an additional 47,300 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of RB Global during the fourth quarter valued at approximately $484,000. Finally, Norges Bank bought a new stake in shares of RB Global during the fourth quarter valued at approximately $209,931,000. Institutional investors own 95.37% of the company's stock.

Insider Activity

In other RB Global news, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the transaction, the director directly owned 5,865 shares in the company, valued at approximately $622,687.05. The trade was a 12.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction that occurred on 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 transaction, the chief executive officer owned 107,569 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 72,133 shares of company stock worth $7,843,729. 4.32% of the stock is owned by corporate insiders.

RB Global Price Performance

RB Global stock traded down $0.56 during mid-day trading on Friday, hitting $107.71. The company's stock had a trading volume of 330,826 shares, compared to its average volume of 1,072,371. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $19.98 billion, a P/E ratio of 53.09, a P/E/G ratio of 2.50 and a beta of 0.77. RB Global, Inc. has a twelve month low of $70.38 and a twelve month high of $111.71. The stock's fifty day moving average price is $106.56 and its two-hundred day moving average price is $100.74.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. Research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, May 29th. RB Global's payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RBA shares. Robert W. Baird boosted their target price on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Royal Bank Of Canada set a $125.00 target price on RB Global and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. CIBC boosted their target price on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. Finally, National Bankshares dropped their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and an average target price of $116.21.

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.