RB Global, Inc. $RBA is Vontobel Holding Ltd.’s 7th Largest Position

Vontobel Holding Ltd. grew its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,215,414 shares of the business services provider’s stock after purchasing an additional 672,450 shares during the quarter. RB Global makes up 2.4% of Vontobel Holding Ltd.’s investment portfolio, making the stock its 7th largest holding. Vontobel Holding Ltd.’s holdings in RB Global were worth $781,862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBA. Cidel Asset Management Inc. raised its position in shares of RB Global by 1.8% in the second quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after purchasing an additional 11,881 shares during the period. Montrusco Bolton Investments Inc. bought a new position in RB Global in the 2nd quarter worth approximately $19,717,000. Voya Investment Management LLC grew its stake in RB Global by 12.8% in the 1st quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock valued at $3,389,000 after buying an additional 3,847 shares in the last quarter. Bank of Nova Scotia Trust Co. grew its stake in RB Global by 4.7% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 74,316 shares of the business services provider’s stock valued at $7,892,000 after buying an additional 3,361 shares in the last quarter. Finally, Kathmere Capital Management LLC bought a new stake in RB Global during the 2nd quarter valued at $476,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Down 0.4%

Shares of NYSE:RBA opened at $105.32 on Wednesday. The firm has a fifty day moving average of $100.27 and a 200 day moving average of $106.79. RB Global, Inc. has a 52-week low of $86.68 and a 52-week high of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. The firm has a market capitalization of $19.58 billion, a PE ratio of 50.39, a price-to-earnings-growth ratio of 2.30 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.83 by $0.10. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm earned $0.71 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th were given a $0.31 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global’s payout ratio is presently 59.33%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RBA shares. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Royal Bank Of Canada lifted their target price on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Weiss Ratings downgraded shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. National Bankshares reduced their price objective on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research note on Thursday, October 9th. Finally, Bank of America lowered their target price on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and an average price target of $122.88.

Insider Activity

In other news, Director Deborah Stein bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average cost of $101.26 per share, with a total value of $101,260.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at $101,260. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.28% of the company’s stock.

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.