AXQ Capital LP Takes $810,000 Position in RB Global, Inc. $RBA

AXQ Capital LP purchased a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,876 shares of the business services provider’s stock, valued at approximately $810,000.

Other large investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division boosted its position in shares of RB Global by 41.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 107 shares during the last quarter. State of Wyoming bought a new stake in shares of RB Global during the 2nd quarter valued at about $46,000. Geneos Wealth Management Inc. boosted 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 acquiring an additional 97 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of RB Global by 53.1% during the 1st 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 last quarter. Finally, Merrithew & Thorsten Inc bought a new stake in RB Global in the 4th quarter worth approximately $61,000. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RBA stock opened at $104.73 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The stock has a 50 day moving average price of $102.16 and a two-hundred day moving average price of $103.96. The company has a market capitalization of $19.47 billion, a P/E ratio of 48.71, a PEG ratio of 1.68 and a beta of 0.57.

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

RB Global Announces Dividend

The business also recently disclosed 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 payout ratio is presently 57.67%.

Insiders Place Their Bets

In related news, Director Deborah Stein acquired 425 shares of the 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 completion of the transaction, the director owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RBA. Weiss Ratings restated a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Stephens restated an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. BMO Capital Markets restated an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Royal Bank Of Canada boosted their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Barclays began coverage on RB Global in a research report on Thursday, May 28th. They issued an “overweight” rating and a $124.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.13.

RB Global Company 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.