Y Intercept Hong Kong Ltd Purchases New Stake in RB Global, Inc. $RBA

Y Intercept Hong Kong Ltd purchased a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,957 shares of the business services provider’s stock, valued at approximately $1,817,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. USS Investment Management Ltd bought a new position in shares of RB Global in the first quarter valued at about $259,000. Manchester Financial Inc. lifted its stake in shares of RB Global by 3.0% during the 1st quarter. Manchester Financial Inc. now owns 15,306 shares of the business services provider’s stock worth $1,467,000 after buying an additional 444 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of RB Global by 5.1% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 48,035 shares of the business services provider’s stock worth $4,604,000 after buying an additional 2,318 shares during the period. Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of RB Global by 0.4% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 45,546 shares of the business services provider’s stock worth $4,354,000 after buying an additional 199 shares during the period. Finally, Canoe Financial LP boosted its holdings in shares of RB Global by 12.7% during the 1st quarter. Canoe Financial LP now owns 1,366,310 shares of the business services provider’s stock worth $130,986,000 after buying an additional 153,615 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.57% of the company’s stock.

RB Global Trading Up 0.3%

Shares of RB Global stock opened at $111.41 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The firm has a 50-day moving average of $107.37 and a 200-day moving average of $105.91. RB Global, Inc. has a 52-week low of $93.58 and a 52-week high of $119.58. The stock has a market cap of $20.71 billion, a PE ratio of 51.82, a PEG ratio of 1.74 and a beta of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. The business had revenue of $888.01 million during the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 EPS. As a group, sell-side analysts forecast that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on RBA. Stephens reissued an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Wall Street Zen upgraded RB Global from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Zacks Research raised RB Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 3rd. Finally, Barclays started coverage on RB Global in a research note on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $126.12.

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.