Lansforsakringar Fondforvaltning AB publ Acquires 7,507 Shares of RB Global, Inc. $RBA

Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 20.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 44,034 shares of the business services provider’s stock after buying an additional 7,507 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in RB Global were worth $4,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RBA. Norges Bank bought a new stake in shares of RB Global during the 2nd quarter worth about $255,798,000. JARISLOWSKY FRASER Ltd acquired a new stake in RB Global in the 3rd quarter worth approximately $195,640,000. Massachusetts Financial Services Co. MA boosted its position in RB Global by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after purchasing an additional 705,423 shares during the period. Vontobel Holding Ltd. grew its holdings in RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after purchasing an additional 672,450 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of RB Global by 7.5% in the second quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock valued at $482,383,000 after purchasing an additional 317,781 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. BMO Capital Markets raised their price target on RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of RB Global in a research note on Thursday, January 22nd. Bank of America cut their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, Royal Bank Of Canada increased their target price on RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.29.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.28% of the company’s stock.

RB Global Stock Down 1.5%

Shares of RBA opened at $96.88 on Wednesday. The company has a 50-day simple moving average of $109.03 and a 200-day simple moving average of $107.47. The firm has a market capitalization of $18.01 billion, a P/E ratio of 47.49, a P/E/G ratio of 1.49 and a beta of 0.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. RB Global, Inc. has a 52 week low of $87.87 and a 52 week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. On average, equities research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, February 9th. RB Global’s dividend payout ratio is presently 60.78%.

RB Global Company 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.