Stephens Inc. AR Purchases 15,373 Shares of RB Global, Inc. $RBA

Key Points

• Stephens Inc. AR increased its RB Global stake by 534.7% in the first quarter, buying 15,373 additional shares to bring its total to 18,248 shares worth about $1.75 million.
• RB Global’s shareholder base remains dominated by institutions, with 95.37% of the stock owned by institutional investors; recent moves also included a director purchase by Deborah Stein, who increased her holdings by 30.36%.
• The company posted Q1 earnings of $1.01 per share, beating estimates, while revenue came in below expectations at $888.01 million; analysts currently rate the stock a consensus “Buy” with an average price target of $126.12.

Stephens Inc. AR boosted its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 534.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 18,248 shares of the business services provider's stock after purchasing an additional 15,373 shares during the period. Stephens Inc. AR's holdings in RB Global were worth $1,749,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its stake in RB Global by 6,120,490.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider's stock valued at $251,851,000 after buying an additional 2,448,196 shares during the period. Norges Bank bought a new position in shares of RB Global during the 4th quarter worth approximately $231,813,000. EdgePoint Investment Group Inc. increased its holdings in shares of RB Global by 11.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider's stock worth $792,934,000 after acquiring an additional 821,319 shares during the last quarter. Kensico Capital Management Corp increased its holdings in shares of RB Global by 152.0% during the 3rd quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider's stock worth $113,128,000 after acquiring an additional 629,700 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in RB Global by 16.4% in the 4th quarter. Janus Henderson Group PLC now owns 4,085,897 shares of the business services provider's stock valued at $420,417,000 after acquiring an additional 576,347 shares during the period. Institutional investors own 95.37% of the company's stock.

Insider Activity

In other RB Global news, Director Deborah Stein bought 425 shares of the stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the acquisition, the director owned 1,825 shares of the company's stock, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.57% of the stock is currently owned by insiders.

RB Global Stock Up 0.3%

RBA opened at $111.41 on Friday. The stock has a fifty day moving average of $107.37 and a 200-day moving average of $105.91. The company has a market capitalization of $20.71 billion, a P/E ratio of 51.82, a P/E/G ratio of 1.74 and a beta of 0.55. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly 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. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $888.01 million for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company posted $0.89 earnings per share. RB Global's revenue was up 11.4% compared to the same quarter last year. On average, equities analysts expect that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Dividend Announcement

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

Wall Street Analyst Weigh In

RBA has been the subject of a number of research analyst reports. Stephens reaffirmed an "equal weight" rating and set a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. Royal Bank Of Canada raised their target price 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. Barclays assumed coverage on shares of RB Global in a report on Thursday, May 28th. They set an "overweight" rating and a $124.00 target price for the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of RB Global in a research note on Tuesday, May 26th. Finally, Zacks Research raised shares of RB Global from a "hold" rating to a "strong-buy" rating in a report on Friday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, RB Global has an average rating of "Buy" and an average price target of $126.12.

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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