RB Global, Inc. $RBA Shares Bought by 12th Street Asset Management Company LLC

12th Street Asset Management Company LLC grew its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 86.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 220,127 shares of the business services provider’s stock after buying an additional 102,004 shares during the period. RB Global accounts for 3.7% of 12th Street Asset Management Company LLC’s investment portfolio, making the stock its 13th largest holding. 12th Street Asset Management Company LLC’s holdings in RB Global were worth $22,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Central Pacific Bank Trust Division raised its position in 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 worth $37,000 after buying an additional 107 shares during the last quarter. State of Wyoming purchased a new position in RB Global during the 2nd quarter worth $46,000. Geneos Wealth Management Inc. raised its position in RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after buying an additional 97 shares during the last quarter. NewEdge Advisors LLC raised its position in RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after buying an additional 204 shares during the last quarter. Finally, Merrithew & Thorsten Inc purchased a new position in RB Global during the 4th quarter worth $61,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares of the company’s stock, valued at $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 available through this hyperlink. Insiders own 0.57% of the company’s stock.

RB Global Stock Performance

RBA opened at $104.79 on Tuesday. RB Global, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58. The stock has a market cap of $19.48 billion, a P/E ratio of 48.74, a P/E/G ratio of 1.67 and a beta of 0.57. The stock’s 50 day simple moving average is $101.43 and its 200 day simple moving average is $103.74. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results 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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. RB Global’s revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RBA shares. Royal Bank Of Canada upped their price objective on shares of RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Stephens restated 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 restated 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. Finally, Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.43.

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.