First Trust Advisors LP Increases Stake in RB Global, Inc. (NYSE:RBA)

First Trust Advisors LP raised its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,783 shares of the business services provider's stock after purchasing an additional 4,224 shares during the period. First Trust Advisors LP's holdings in RB Global were worth $2,777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RBA. Natixis Advisors LLC lifted its holdings in RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock valued at $1,703,000 after buying an additional 7,737 shares during the period. Mawer Investment Management Ltd. lifted its stake in shares of RB Global by 15.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock valued at $10,876,000 after purchasing an additional 16,397 shares during the period. Vanguard Group Inc. boosted its position in shares of RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after purchasing an additional 358,752 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in RB Global during the fourth quarter worth approximately $27,000. Finally, Pictet Asset Management Holding SA increased its holdings in RB Global by 16.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider's stock worth $9,050,000 after purchasing an additional 13,836 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Up 1.0 %

RBA stock traded up $1.10 during mid-day trading on Friday, reaching $105.91. 1,582,500 shares of the company traded hands, compared to its average volume of 1,108,085. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The firm's 50 day moving average price is $98.33 and its 200 day moving average price is $94.86. The stock has a market cap of $19.61 billion, a price-to-earnings ratio of 52.69, a P/E/G ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a fifty-two week low of $70.27 and a fifty-two week high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. RB Global's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. As a group, equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.10%. RB Global's dividend payout ratio is currently 57.71%.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO James J. Jeter sold 600 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the sale, the executive now owns 19,667 shares of the company's stock, valued at $1,939,756.21. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock valued at $2,338,161 over the last ninety days. Corporate insiders own 4.32% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. National Bankshares reduced their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Robert W. Baird upped their price objective on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday. Raymond James raised their target price on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, CIBC upped their price target on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, RB Global currently has an average rating of "Moderate Buy" and a consensus target price of $114.50.

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.