OMERS ADMINISTRATION Corp Invests $13.66 Million in RB Global, Inc. $RBA

OMERS ADMINISTRATION Corp acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 117,353 shares of the business services provider’s stock, valued at approximately $13,657,000. OMERS ADMINISTRATION Corp owned 0.06% of RB Global at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC raised its stake 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 valued at $1,031,000 after purchasing an additional 5,090 shares during the last quarter. NewEdge Advisors LLC grew its position in RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after purchasing an additional 204 shares during the last quarter. Jones Financial Companies Lllp grew its position in RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after purchasing an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of RB Global by 35.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after purchasing an additional 88,813 shares during the period. Finally, Woodline Partners LP bought a new position in shares of RB Global during the 1st quarter worth about $4,103,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Trading Down 0.1%

Shares of RB Global stock opened at $86.97 on Monday. 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 $16.10 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56. 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 company’s fifty day moving average price is $105.76 and its two-hundred day moving average price is $104.17.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping 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. On average, analysts expect that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

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

Analysts Set New Price Targets

RBA has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Barclays decreased their target price on RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Royal Bank Of Canada boosted their price target on RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a report on Tuesday, June 30th. Finally, Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.00.

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.