Forsta AP Fonden Buys 6,000 Shares of RB Global, Inc. (NYSE:RBA)

Forsta AP Fonden raised its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 16.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,300 shares of the business services provider’s stock after acquiring an additional 6,000 shares during the period. Forsta AP Fonden’s holdings in RB Global were worth $3,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of RB Global by 5.1% in the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after acquiring an additional 1,153,497 shares during the period. Bank of New York Mellon Corp grew its position in shares of RB Global by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after purchasing an additional 787,042 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of RB Global by 1,879.0% during the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after purchasing an additional 594,941 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of RB Global by 3,387.9% in the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after buying an additional 594,199 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. boosted its stake in shares of RB Global by 83.2% in the first quarter. BW Gestao de Investimentos Ltda. now owns 701,538 shares of the business services provider’s stock valued at $53,436,000 after buying an additional 318,582 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE:RBA opened at $86.63 on Wednesday. RB Global, Inc. has a one year low of $58.85 and a one year high of $87.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. The company has a market cap of $15.98 billion, a price-to-earnings ratio of 48.67, a PEG ratio of 5.54 and a beta of 0.93. The firm has a 50 day simple moving average of $83.31 and a 200 day simple moving average of $78.87.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. RB Global’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. Research analysts predict that RB Global, Inc. will post 1.92 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.29 per share. This is a boost from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Wednesday, August 28th. RB Global’s payout ratio is 65.17%.

Insider Activity

In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares in the company, valued at $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,601 shares of company stock valued at $3,720,043 over the last quarter. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

RBA has been the topic of a number of recent research reports. Raymond James raised their price objective on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird boosted their price target on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets assumed coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 price objective on the stock. Bank of America boosted their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada lifted their price objective on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.19.

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.