Bank of New York Mellon Corp Has $98.37 Million Stock Holdings in RB Global, Inc. $RBA

Bank of New York Mellon Corp trimmed its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,026,321 shares of the business services provider’s stock after selling 19,589 shares during the period. Bank of New York Mellon Corp’s holdings in RB Global were worth $98,373,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Personal CFO Solutions LLC boosted its holdings in shares of RB Global by 0.9% in the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 96 shares in the last quarter. Covestor Ltd grew its stake in shares of RB Global by 11.6% during the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock worth $96,000 after buying an additional 97 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of RB Global by 21.9% during the first 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 in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 105 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings 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 in the last quarter. 95.37% of the stock is owned by institutional investors.

RB Global Trading Down 1.0%

NYSE RBA opened at $110.52 on Tuesday. The stock has a market capitalization of $20.55 billion, a P/E ratio of 51.40, a P/E/G ratio of 1.75 and a beta of 0.55. The business has a 50 day simple moving average of $108.16 and a 200 day simple moving average of $106.16. 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, Inc. has a one year low of $93.58 and a one year high of $119.58.

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

RB Global Announces Dividend

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

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of recent research reports. National Bank Financial lifted their price target on RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a report on Tuesday, June 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada upped their price target on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Two 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $128.00.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein acquired 425 shares of RB Global stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the acquisition, the director directly owned 1,825 shares of the company’s stock, valued at $188,248.75. This represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

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.