Osaic Holdings Inc. Raises Stock Position in RB Global, Inc. $RBA

Osaic Holdings Inc. boosted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 81.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,372 shares of the business services provider’s stock after purchasing an additional 8,243 shares during the period. Osaic Holdings Inc.’s holdings in RB Global were worth $1,899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of RB Global in the first quarter worth $38,000. State of Wyoming bought a new position in RB Global in the second quarter valued at about $46,000. Whipplewood Advisors LLC boosted its position in RB Global by 42.9% in the second quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after purchasing an additional 137 shares during the last quarter. SouthState Corp grew its stake in shares of RB Global by 75.6% during the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 195 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a research note on Monday, November 24th. Royal Bank Of Canada boosted their price objective on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Bank of America decreased their target price on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.88.

Insiders Place Their Bets

In related news, Director Deborah Stein acquired 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $101.26 per share, with a total value of $101,260.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $101,260. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.28% of the stock is owned by insiders.

RB Global Stock Down 0.1%

Shares of RBA stock opened at $105.36 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15. RB Global, Inc. has a one year low of $86.68 and a one year high of $119.58. The company’s fifty day moving average price is $100.51 and its 200-day moving average price is $106.76. The company has a market capitalization of $19.58 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 2.30 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $0.71 EPS. RB Global’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. RB Global’s payout ratio is currently 59.33%.

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.