MidFirst Bank Takes $6.83 Million Position in RB Global, Inc. $RBA

MidFirst Bank purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 66,433 shares of the business services provider’s stock, valued at approximately $6,834,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBA. MV Capital Management Inc. bought a new stake in shares of RB Global in the 4th quarter valued at $29,000. Central Pacific Bank Trust Division grew its holdings in RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after purchasing an additional 107 shares during the period. State of Wyoming bought a new stake in RB Global in the second quarter valued at $46,000. Nemes Rush Group LLC bought a new stake in RB Global in the fourth quarter valued at $54,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the period. 95.37% of the stock is currently owned by institutional investors.

RB Global Trading Up 3.0%

RBA opened at $110.54 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The firm has a market capitalization of $20.55 billion, a PE ratio of 51.41, a P/E/G ratio of 1.71 and a beta of 0.57. The company’s 50-day moving average is $104.73 and its 200 day moving average is $104.73.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, research analysts predict that RB Global, Inc. will post 4.09 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s dividend payout ratio (DPR) is currently 57.67%.

Insider Buying and Selling at RB Global

In related news, Director Deborah Stein bought 425 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RBA shares. BMO Capital Markets restated an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Stephens reiterated an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Barclays assumed coverage on RB Global in a research note on Thursday, May 28th. They issued an “overweight” rating and a $124.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada increased their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.12.

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.