Bessemer Group Inc. Has $473,000 Stake in RB Global, Inc. $RBA

Bessemer Group Inc. trimmed its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 67.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,934 shares of the business services provider’s stock after selling 10,049 shares during the quarter. Bessemer Group Inc.’s holdings in RB Global were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of RB Global by 5.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 467,816 shares of the business services provider’s stock worth $45,191,000 after acquiring an additional 25,288 shares in the last quarter. Twin Capital Management Inc. boosted its stake in RB Global by 1.8% in the first quarter. Twin Capital Management Inc. now owns 11,994 shares of the business services provider’s stock valued at $1,150,000 after acquiring an additional 213 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in RB Global by 38.6% in the first quarter. Sanctuary Advisors LLC now owns 6,486 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 1,805 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of RB Global by 52.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 128,100 shares of the business services provider’s stock worth $12,282,000 after acquiring an additional 43,975 shares during the period. Finally, State of Michigan Retirement System boosted its position in RB Global by 1.8% during the first quarter. State of Michigan Retirement System now owns 44,700 shares of the business services provider’s stock worth $4,284,000 after purchasing an additional 800 shares during the period. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 2.3%

Shares of NYSE:RBA opened at $111.68 on Friday. The firm has a fifty day moving average of $108.82 and a 200 day moving average of $106.35. RB Global, Inc. has a 52-week low of $93.58 and a 52-week high of $119.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The firm has a market capitalization of $20.71 billion, a PE ratio of 51.95, a price-to-earnings-growth ratio of 1.71 and a beta of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. The firm had revenue of $888.01 million for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. As a group, research analysts anticipate that RB Global, Inc. will post 4.16 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were paid a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global’s payout ratio is currently 57.67%.

Insider Transactions at RB Global

In related news, Director Deborah Stein acquired 425 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the acquisition, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their price objective on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Barclays cut their price objective on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday. Zacks Research raised shares of RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, National Bank Financial increased their target price on shares of RB Global from $130.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $127.57.

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.