Hussman Strategic Advisors Inc. Takes Position in RB Global, Inc. $RBA

Hussman Strategic Advisors Inc. acquired a new position in 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 & Exchange Commission. The fund acquired 10,500 shares of the business services provider’s stock, valued at approximately $1,138,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after buying an additional 5,090 shares during the period. NewEdge Advisors LLC raised its position in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after acquiring an additional 204 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of RB Global by 857.9% in the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after acquiring an additional 3,346 shares during the period. Goldman Sachs Group Inc. boosted its holdings in RB Global by 35.6% in the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after acquiring an additional 88,813 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in RB Global in the first quarter valued at approximately $4,103,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of RB Global in a report on Thursday, January 22nd. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. National Bankshares dropped their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Bank of America cut their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Finally, Raymond James Financial lifted their price objective on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $124.13.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at $12,370,435. This trade represents a 16.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Deborah Stein purchased 1,000 shares of RB Global stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average cost of $101.26 per share, with a total value of $101,260.00. Following the transaction, the director owned 1,000 shares in the company, valued at $101,260. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.28% of the company’s stock.

RB Global Stock Down 1.1%

Shares of NYSE RBA opened at $116.07 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The firm has a market cap of $21.57 billion, a PE ratio of 55.53, a P/E/G ratio of 2.20 and a beta of 0.57. The company’s fifty day simple moving average is $105.29 and its 200 day simple moving average is $107.48. RB Global, Inc. has a 12-month low of $86.68 and a 12-month high of $119.58.

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

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be issued a $0.31 dividend. The ex-dividend date is Monday, February 9th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global’s dividend payout ratio is presently 59.33%.

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.