RB Global, Inc. $RBA Stock Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,000,897 shares of the business services provider’s stock after buying an additional 250,887 shares during the period. Geode Capital Management LLC’s holdings in RB Global were worth $513,930,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. 12th Street Asset Management Company LLC grew its position in shares of RB Global by 86.4% during the 4th quarter. 12th Street Asset Management Company LLC now owns 220,127 shares of the business services provider’s stock valued at $22,644,000 after buying an additional 102,004 shares during the last quarter. Clearstead Advisors LLC grew its position in shares of RB Global by 29.3% during the 4th quarter. Clearstead Advisors LLC now owns 1,072 shares of the business services provider’s stock valued at $110,000 after buying an additional 243 shares during the last quarter. Legal & General Group Plc grew its position in shares of RB Global by 3.0% during the 4th quarter. Legal & General Group Plc now owns 1,007,640 shares of the business services provider’s stock valued at $103,845,000 after buying an additional 29,368 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of RB Global by 81.8% during the 4th quarter. Hantz Financial Services Inc. now owns 2,859 shares of the business services provider’s stock valued at $294,000 after buying an additional 1,286 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of RB Global by 0.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 67,669 shares of the business services provider’s stock valued at $6,961,000 after buying an additional 216 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling

In other news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

RB Global Price Performance

NYSE RBA opened at $106.40 on Monday. RB Global, Inc. has a 52 week low of $93.58 and a 52 week high of $119.58. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. The stock has a market cap of $19.78 billion, a price-to-earnings ratio of 49.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57. The company has a 50-day moving average price of $101.97 and a two-hundred day moving average price of $103.93.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. RB Global’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts forecast that RB Global, Inc. will post 4.09 EPS for the current year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be given a $0.31 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global’s dividend payout ratio is 57.67%.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Stephens reaffirmed an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Barclays initiated coverage on shares of RB Global in a research report on Thursday. They set an “overweight” rating and a $124.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.13.

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.