UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Position in RB Global, Inc. $RBA

Key Points

• UBS AM increased its holdings in RB Global, Inc. by 2.7% during the 1st quarter, now owning approximately 451,101 shares valued at around $45 million.
• RB Global recently declared a quarterly dividend of $0.31 per share, representing a 6.9% increase from the previous dividend.
• Analysts have given RB Global a consensus rating of "Moderate Buy", with price targets ranging from $113 to $135 from various research firms.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 451,101 shares of the business services provider's stock after buying an additional 12,000 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.24% of RB Global worth $45,245,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Woodline Partners LP purchased a new position in shares of RB Global during the first quarter valued at approximately $4,103,000. Ascent Group LLC boosted its position in shares of RB Global by 22.6% during the first quarter. Ascent Group LLC now owns 13,834 shares of the business services provider's stock valued at $1,388,000 after buying an additional 2,549 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of RB Global by 35.6% during the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider's stock valued at $33,940,000 after buying an additional 88,813 shares during the period. Jones Financial Companies Lllp boosted its position in shares of RB Global by 857.9% during the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider's stock valued at $375,000 after buying an additional 3,346 shares during the period. Finally, Third Point LLC purchased a new position in shares of RB Global during the first quarter valued at approximately $95,285,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Price Performance

Shares of RBA opened at $117.21 on Monday. The firm has a market capitalization of $21.75 billion, a PE ratio of 58.03, a price-to-earnings-growth ratio of 2.72 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global, Inc. has a 1-year low of $78.08 and a 1-year high of $118.79. The company's fifty day moving average price is $112.28 and its 200-day moving average price is $105.41.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating 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 analyst estimates of $1.14 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. On average, equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global's dividend payout ratio is currently 61.39%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 45,658 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the sale, the chief executive officer directly owned 107,569 shares of the company's stock, valued at $11,832,590. This represents a 29.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the sale, the insider directly 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. 0.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RBA has been the subject of several research analyst reports. National Bankshares lifted their price target on shares of RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Raymond James Financial boosted their price objective on shares of RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Royal Bank Of Canada boosted their price objective on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets boosted their price objective on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, RB Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.33.

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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