Manchester Financial Inc. Makes New $1.68 Million Investment in RB Global, Inc. $RBA

Manchester Financial Inc. acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,545 shares of the business services provider’s stock, valued at approximately $1,684,000.

A number of other large investors have also modified their holdings of RBA. SVB Wealth LLC acquired a new stake in RB Global during the first quarter worth $28,000. Rise Advisors LLC bought a new position in shares of RB Global during the 1st quarter worth about $38,000. State of Wyoming acquired a new stake in shares of RB Global during the 2nd quarter valued at about $46,000. SouthState Corp increased its stake in RB Global by 75.6% in the second quarter. SouthState Corp now owns 453 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 195 shares during the period. Finally, Whipplewood Advisors LLC raised its position in RB Global by 42.9% in the second quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after purchasing an additional 137 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of recent research reports. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a report on Monday, November 24th. Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. National Bankshares cut their price objective on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Finally, Royal Bank Of Canada boosted their target price on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus price target of $122.88.

Insider Buying and Selling at RB Global

In related news, Director Deborah Stein acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the transaction, the director directly owned 1,000 shares of the company’s stock, valued at approximately $101,260. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

RB Global Trading Down 0.4%

Shares of RBA opened at $105.32 on Wednesday. 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 company has a market cap of $19.58 billion, a price-to-earnings ratio of 50.39, a PEG ratio of 2.30 and a beta of 0.56. The stock has a fifty day moving average price of $100.27 and a two-hundred day moving average price of $106.79. RB Global, Inc. has a 52-week low of $86.68 and a 52-week high of $119.58.

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

RB Global Dividend Announcement

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

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.