Corient Private Wealth LP Invests $2.80 Million in RB Global, Inc. $RBA

Corient Private Wealth LP acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 24,050 shares of the business services provider’s stock, valued at approximately $2,801,000.

Several other institutional investors have also recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in RB Global during the 2nd quarter valued at $171,621,000. Freestone Grove Partners LP acquired a new position in shares of RB Global in the second quarter worth $16,254,000. Caisse de depot et placement du Quebec purchased a new stake in shares of RB Global in the second quarter valued at $183,651,000. Man Group plc purchased a new stake in shares of RB Global in the second quarter valued at $6,146,000. Finally, Invst LLC purchased a new stake in shares of RB Global in the second quarter valued at $1,252,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RBA. Barclays dropped their price objective on RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Royal Bank Of Canada boosted their price objective on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

RB Global Stock Performance

RB Global stock opened at $82.74 on Wednesday. The stock has a fifty day moving average price of $102.30 and a 200 day moving average price of $102.62. RB Global, Inc. has a 52 week low of $82.03 and a 52 week high of $119.58. The firm has a market capitalization of $15.32 billion, a P/E ratio of 35.51, a PEG ratio of 1.44 and a beta of 0.53. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts anticipate that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, August 25th. This is an increase from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. RB Global’s payout ratio is 56.65%.

Insider Buying and Selling at RB Global

In other news, Director Chloe Harford bought 1,200 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the acquisition, the director owned 1,200 shares of the company’s stock, valued at $100,488. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is owned by corporate insiders.

RB Global Company 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.