Voya Investment Management LLC Purchases 3,847 Shares of RB Global, Inc. $RBA

Key Points

• Voya Investment Management LLC increased its holdings in RB Global, Inc. by 12.8% during the first quarter, owning 33,785 shares worth approximately $3.39 million.
• Insiders sold a total of 55,209 shares of RB Global stock recently, indicating a 22.93% decrease in ownership for some insiders.
• RB Global has recently increased its quarterly dividend from $0.29 to $0.31 per share, with a current yield of 1.0% and a dividend payout ratio of 61.39%.

Voya Investment Management LLC raised its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 12.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,785 shares of the business services provider's stock after buying an additional 3,847 shares during the quarter. Voya Investment Management LLC's holdings in RB Global were worth $3,389,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in RB Global by 3.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock worth $1,027,191,000 after acquiring an additional 352,530 shares in the last quarter. Fiera Capital Corp raised its holdings in RB Global by 17.3% during the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after buying an additional 557,407 shares in the last quarter. Invesco Ltd. raised its holdings in RB Global by 26.9% during the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock valued at $244,360,000 after buying an additional 516,865 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of RB Global by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 1,854,476 shares of the business services provider's stock valued at $186,098,000 after acquiring an additional 19,543 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in shares of RB Global by 44.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider's stock valued at $151,331,000 after acquiring an additional 463,844 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 107,569 shares of the company's stock, valued at $11,832,590. The trade was a 29.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,209 shares of company stock valued at $6,090,521. 0.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RBA shares. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. National Bankshares lifted their target price on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Raymond James Financial raised their price target on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. CIBC raised their price target on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research report on Friday, July 18th. Finally, BMO Capital Markets increased their target price on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, RB Global currently has an average rating of "Moderate Buy" and an average target price of $124.33.

RB Global Stock Performance

RBA traded down $0.54 during trading on Tuesday, reaching $114.28. 103,181 shares of the company's stock were exchanged, compared to its average volume of 1,079,373. The business has a 50 day moving average price of $113.54 and a 200 day moving average price of $106.09. The company has a market capitalization of $21.21 billion, a P/E ratio of 56.58, a PEG ratio of 2.76 and a beta of 0.65. RB Global, Inc. has a fifty-two week low of $78.08 and a fifty-two week high of $119.58. 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 (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. The company's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 28th. This is a boost from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global's dividend payout ratio (DPR) is 61.39%.

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.