Armstrong Henry H Associates Inc. Has $2.37 Million Stock Holdings in RB Global, Inc. $RBA

Armstrong Henry H Associates Inc. boosted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 63.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 23,055 shares of the business services provider’s stock after purchasing an additional 8,965 shares during the quarter. RB Global makes up approximately 0.2% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 25th biggest position. Armstrong Henry H Associates Inc.’s holdings in RB Global were worth $2,372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after buying an additional 5,090 shares during the period. NewEdge Advisors LLC grew its stake in RB Global by 53.1% in the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 204 shares during the period. Jones Financial Companies Lllp grew its stake in RB Global by 857.9% in the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 3,346 shares during the period. Goldman Sachs Group Inc. raised its holdings in RB Global by 35.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after buying an additional 88,813 shares during the period. Finally, Woodline Partners LP bought a new position in RB Global in the first quarter valued at approximately $4,103,000. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE RBA opened at $94.98 on Friday. RB Global, Inc. has a twelve month low of $87.87 and a twelve month high of $119.58. The company has a market capitalization of $17.66 billion, a PE ratio of 46.56, a PEG ratio of 1.46 and a beta of 0.57. The stock’s 50 day moving average price is $107.37 and its 200-day moving average price is $105.69. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, February 9th. RB Global’s payout ratio is presently 60.78%.

Insider Buying and Selling

In other news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares in the company, valued at approximately $12,370,435. This trade represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Deborah Stein acquired 400 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $98.74 per share, with a total value of $39,496.00. Following the acquisition, the director directly owned 1,400 shares of the company’s stock, valued at $138,236. This represents a 40.00% increase in their position. The SEC filing for this purchase provides additional information. 4.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RBA. BMO Capital Markets lifted their price target on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Weiss Ratings raised RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a report on Monday, November 24th. Raymond James Financial raised their target price on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada upped their target price on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $129.29.

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.