Vanguard Group Inc. Increases Stock Position in RB Global, Inc. (NYSE:RBA)

Vanguard Group Inc. grew its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,916,629 shares of the business services provider’s stock after purchasing an additional 358,752 shares during the period. Vanguard Group Inc. owned approximately 13.49% of RB Global worth $2,248,060,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RBA. Vontobel Holding Ltd. grew its holdings in RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares in the last quarter. State Street Corp increased its position in RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after purchasing an additional 103,080 shares during the last quarter. Geode Capital Management LLC raised its stake in RB Global by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock valued at $297,400,000 after purchasing an additional 108,188 shares in the last quarter. Janus Henderson Group PLC lifted its position in RB Global by 0.7% during the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock valued at $272,293,000 after purchasing an additional 24,101 shares during the last quarter. Finally, Boston Partners grew its stake in shares of RB Global by 6.9% in the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider’s stock worth $298,500,000 after buying an additional 214,181 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

RB Global Stock Down 0.3 %

Shares of RBA opened at $100.26 on Thursday. The firm has a fifty day moving average price of $96.00 and a 200-day moving average price of $91.22. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $18.52 billion, a P/E ratio of 49.88, a P/E/G ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a 12-month low of $69.83 and a 12-month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. Equities research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank of Canada increased their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. BMO Capital Markets lifted their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James increased their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, CIBC reduced their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.64.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. The trade was a 12.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the transaction, the executive now owns 20,267 shares in the company, valued at approximately $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is currently owned by company insiders.

About RB Global

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.