Sterling Capital Management LLC Trims Position in RB Global, Inc. $RBA

Sterling Capital Management LLC lowered its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 42.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,952 shares of the business services provider’s stock after selling 4,450 shares during the quarter. Sterling Capital Management LLC’s holdings in RB Global were worth $570,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in shares of RB Global by 1.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock valued at $1,120,479,000 after buying an additional 165,260 shares during the period. Mackenzie Financial Corp grew its position in RB Global by 6.1% in the third quarter. Mackenzie Financial Corp now owns 745,217 shares of the business services provider’s stock worth $80,700,000 after acquiring an additional 42,875 shares during the period. Bank of Nova Scotia raised its position in RB Global by 29.6% in the third quarter. Bank of Nova Scotia now owns 214,585 shares of the business services provider’s stock valued at $23,245,000 after purchasing an additional 48,987 shares during the period. iSAM Funds UK Ltd purchased a new position in shares of RB Global in the third quarter valued at approximately $1,549,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of RB Global by 13.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 442,528 shares of the business services provider’s stock worth $45,709,000 after purchasing an additional 50,830 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the acquisition, the director owned 1,825 shares of the company’s stock, valued at $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RBA. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a research note on Tuesday. Barclays assumed coverage on shares of RB Global in a research note on Thursday, May 28th. They set an “overweight” rating and a $124.00 price objective on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. BMO Capital Markets reiterated an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada lifted their price target on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, RB Global presently has an average rating of “Buy” and an average target price of $126.12.

RB Global Stock Performance

Shares of NYSE RBA opened at $112.72 on Friday. RB Global, Inc. has a 12-month low of $93.58 and a 12-month high of $119.58. The company has a market cap of $20.96 billion, a PE ratio of 52.43, a P/E/G ratio of 1.77 and a beta of 0.55. The stock has a 50 day simple moving average of $106.69 and a 200-day simple moving average of $105.61. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last announced 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 firm had revenue of $888.01 million for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts forecast that RB Global, Inc. will post 4.17 EPS for the current year.

RB Global Announces Dividend

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

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.