Swiss National Bank Has $52.71 Million Stake in RB Global, Inc. (NYSE:RBA)

Key Points

• The Swiss National Bank has reduced its holdings in RB Global, Inc. by 1.9%, now owning 524,843 shares valued at approximately $52.71 million.
• Brokerages have notably increased their target prices for RB Global, with BMO Capital Markets raising its target from $125 to $130, indicating an overall outperform rating from several analysts.
• RB Global recently increased its quarterly dividend from $0.29 to $0.31, translating to an annualized dividend of $1.24 and a dividend yield of 1.1%.

Swiss National Bank trimmed its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,843 shares of the business services provider's stock after selling 10,100 shares during the period. Swiss National Bank owned 0.28% of RB Global worth $52,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBA. Franklin Resources Inc. raised its position in shares of RB Global by 9.6% in the fourth quarter. Franklin Resources Inc. now owns 13,777 shares of the business services provider's stock valued at $1,242,000 after buying an additional 1,209 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of RB Global by 2.3% in the fourth quarter. Wells Fargo & Company MN now owns 60,458 shares of the business services provider's stock valued at $5,454,000 after buying an additional 1,386 shares in the last quarter. Invesco Ltd. raised its position in RB Global by 5.9% during the fourth quarter. Invesco Ltd. now owns 1,919,431 shares of the business services provider's stock valued at $173,152,000 after purchasing an additional 106,627 shares in the last quarter. Treasurer of the State of North Carolina raised its position in RB Global by 18.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 94,755 shares of the business services provider's stock valued at $8,548,000 after purchasing an additional 14,740 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in RB Global by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 10,853 shares of the business services provider's stock valued at $979,000 after purchasing an additional 3,873 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on RBA. BMO Capital Markets boosted their price objective on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday. CIBC boosted their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research note on Friday, July 18th. Royal Bank Of Canada boosted their target price on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday. Raymond James Financial boosted their target price on shares of RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $119.79.

RB Global Stock Performance

Shares of RB Global stock opened at $114.10 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. RB Global, Inc. has a twelve month low of $77.79 and a twelve month high of $114.45. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 56.49, a P/E/G ratio of 2.65 and a beta of 0.75. The company's fifty day moving average is $107.13 and its 200 day moving average is $101.76.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.94 earnings per share. RB Global's revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be paid a $0.31 dividend. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 28th. RB Global's payout ratio is presently 57.43%.

Insider Buying and Selling

In related news, insider Andrew John Fesler sold 9,075 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total value of $950,334.00. Following the sale, the insider owned 5,532 shares of the company's stock, valued at $579,311.04. The trade was a 62.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO James J. Jeter sold 2,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $106.96, for a total transaction of $213,920.00. Following the completion of the sale, the executive directly owned 14,167 shares in the company, valued at approximately $1,515,302.32. This represents a 12.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,633 shares of company stock valued at $7,478,399 over the last quarter. 0.28% of the stock is currently owned by company insiders.

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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