Quantinno Capital Management LP Purchases 62,660 Shares of RB Global, Inc. $RBA

Quantinno Capital Management LP boosted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 88.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,885 shares of the business services provider’s stock after buying an additional 62,660 shares during the quarter. Quantinno Capital Management LP owned approximately 0.07% of RB Global worth $12,833,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its stake in RB Global by 6,120,490.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock worth $251,851,000 after buying an additional 2,448,196 shares in the last quarter. Norges Bank acquired a new stake in shares of RB Global in the fourth quarter worth approximately $231,813,000. Lazard Asset Management LLC acquired a new stake in shares of RB Global in the first quarter worth approximately $210,091,000. EdgePoint Investment Group Inc. increased its position in shares of RB Global by 11.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock worth $792,934,000 after purchasing an additional 821,319 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in RB Global by 16.4% in the 4th quarter. Janus Henderson Group PLC now owns 4,085,897 shares of the business services provider’s stock valued at $420,417,000 after purchasing an additional 576,347 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Up 2.4%

Shares of NYSE:RBA opened at $112.35 on Tuesday. The company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 52.26, a PEG ratio of 2.24 and a beta of 0.56. RB Global, Inc. has a 12-month low of $93.58 and a 12-month high of $119.58. The business has a 50-day moving average price of $109.97 and a 200 day moving average price of $106.56. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company had revenue of $888.01 million for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. RB Global’s revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts expect that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 25th. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio is 57.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. National Bank Financial boosted their price target on shares of RB Global from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. 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 note on Tuesday, May 5th. Finally, Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $127.57.

Insiders Place Their Bets

In other news, Director Deborah Stein bought 425 shares of the business’s stock in a transaction 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 $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

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.