Korea Investment CORP Makes New $16.10 Million Investment in RB Global, Inc. $RBA

Korea Investment CORP bought a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, HoldingsChannel.com reports. The fund bought 138,345 shares of the business services provider’s stock, valued at approximately $16,100,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RBA. Addison Advisors LLC purchased a new position in shares of RB Global in the 2nd quarter worth about $26,000. MV Capital Management Inc. bought a new stake in RB Global during the 4th quarter valued at about $29,000. J.Safra Asset Management Corp purchased a new position in RB Global in the second quarter worth about $32,000. Bayban purchased a new position in RB Global in the fourth quarter worth about $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of RB Global in the first quarter worth approximately $43,000. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings cut RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Stephens reiterated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Royal Bank Of Canada lifted their target price on RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $135.00 price target (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average price target of $128.00.

RB Global Stock Performance

RBA stock opened at $86.97 on Monday. The company has a market cap of $16.10 billion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56. RB Global, Inc. has a 1 year low of $82.03 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The stock’s fifty day moving average price is $105.76 and its 200-day moving average price is $104.17.

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 return on equity of 12.37% and a net margin of 9.99%.The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, equities analysts forecast that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.5%. This is a positive change from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. RB Global’s dividend payout ratio (DPR) is presently 53.22%.

RB Global 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.