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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Strs Ohio purchased a new stake in RB Global in the first quarter valued at $1,849,000. Geneos Wealth Management Inc. lifted its position in RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after acquiring an additional 97 shares during the last quarter. Intech Investment Management LLC lifted its position in RB Global by 77.0% in the first quarter. Intech Investment Management LLC now owns 77,800 shares of the business services provider's stock valued at $7,807,000 after acquiring an additional 33,845 shares during the last quarter. Jane Street Group LLC lifted its position in RB Global by 1,469.4% in the first quarter. Jane Street Group LLC now owns 365,071 shares of the business services provider's stock valued at $36,617,000 after acquiring an additional 341,809 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in RB Global by 2.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 451,101 shares of the business services provider's stock valued at $45,245,000 after acquiring an additional 12,000 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RBA shares. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. National Bankshares boosted 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 report on Thursday, August 7th. Raymond James Financial lifted their price objective on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada lifted their price objective on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $124.33.

Insider Activity

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the sale, the insider owned 24,874 shares in the company, valued at $2,736,140. This represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,209 shares of company stock worth $6,090,521 over the last ninety days. 4.32% of the stock is currently owned by insiders.

RB Global Trading Up 0.9%

Shares of RBA opened at $118.94 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average is $113.43 and its two-hundred day moving average is $105.91. RB Global, Inc. has a twelve month low of $78.08 and a twelve month high of $119.58. The firm has a market capitalization of $22.07 billion, a P/E ratio of 58.88, a PEG ratio of 2.74 and a beta of 0.65.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results 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 analyst estimates of $1.14 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th were given a dividend of $0.31 per share. The ex-dividend date was Thursday, August 28th. This is an increase from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.0%. RB Global's dividend payout ratio (DPR) is currently 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.

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