United Capital Financial Advisors LLC Acquires New Stake in RB Global, Inc. $RBA

United Capital Financial Advisors LLC bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 31,074 shares of the business services provider’s stock, valued at approximately $3,619,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in RB Global during the 2nd quarter worth approximately $1,816,059,000. EdgePoint Investment Group Inc. grew its stake in shares of RB Global by 14.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after purchasing an additional 1,111,217 shares in the last quarter. State Street Corp increased its holdings in RB Global by 1.7% in the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock valued at $647,118,000 after buying an additional 104,286 shares during the last quarter. Royal Bank of Canada increased its holdings in RB Global by 13.1% in the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock valued at $483,432,000 after buying an additional 585,617 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in RB Global by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock valued at $513,930,000 after buying an additional 250,887 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RB Global

In other news, Director Chloe Harford acquired 1,200 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the acquisition, the director owned 1,200 shares of the company’s stock, valued at $100,488. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

RB Global Stock Performance

Shares of RBA stock opened at $85.94 on Friday. The stock’s 50-day moving average is $103.30 and its two-hundred day moving average is $103.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. RB Global, Inc. has a 1 year low of $82.03 and a 1 year high of $119.58. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 1.47 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. Analysts predict that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be paid a $0.33 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, August 25th. RB Global’s dividend payout ratio (DPR) is presently 56.65%.

Analyst Ratings Changes

A number of brokerages have issued reports on RBA. Barclays decreased their price target on RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. BMO Capital Markets reissued an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada increased their price target on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average 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.