Arkfeld Wealth Strategies L.L.C. Acquires New Stake in RB Global, Inc. $RBA

Arkfeld Wealth Strategies L.L.C. acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the third quarter, Holdings Channel reports. The fund acquired 9,593 shares of the business services provider’s stock, valued at approximately $771,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RBA. BlackRock Inc. acquired a new position in shares of RB Global in the second quarter valued at approximately $1,816,059,000. EdgePoint Investment Group Inc. grew its position in RB Global by 14.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock valued at $845,337,000 after buying an additional 1,111,217 shares during the last quarter. Royal Bank of Canada increased its stake in RB Global by 13.1% in the 1st 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 period. Jupiter Topco LLC acquired a new position in RB Global in the 2nd quarter valued at $514,871,000. Finally, Janus Henderson Group PLC raised its position in RB Global by 7.0% during the 1st quarter. Janus Henderson Group PLC now owns 4,371,610 shares of the business services provider’s stock worth $418,876,000 after buying an additional 285,713 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on RBA. Zacks Research cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $152.00 price target on shares of RB Global in a report on Wednesday, September 23rd. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $126.29.

RB Global Price Performance

RBA stock traded down $5.39 on Monday, reaching $78.91. 1,624,781 shares of the company’s stock were exchanged, compared to its average volume of 1,463,077. The stock has a fifty day moving average of $84.34 and a 200-day moving average of $98.72. RB Global, Inc. has a twelve month low of $78.05 and a twelve month high of $119.33. The firm has a market cap of $14.30 billion, a PE ratio of 33.80, a P/E/G ratio of 1.44 and a beta of 0.53. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, equities analysts predict that RB Global, Inc. will post 4.06 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th were issued a $0.33 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from RB Global’s previous quarterly dividend of $0.31. RB Global’s payout ratio is 56.65%.

Insider Transactions at RB Global

In related news, Director Deborah Stein acquired 500 shares of RB Global stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average price of $80.91 per share, for a total transaction of $40,455.00. Following the completion of the purchase, the director directly owned 2,325 shares of the company’s stock, valued at approximately $188,115.75. This trade represents a 27.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chloe Harford acquired 1,200 shares of RB Global stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average price of $83.74 per share, with a total value of $100,488.00. Following the purchase, the director directly owned 1,200 shares of the company’s stock, valued at approximately $100,488. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.57% of the company’s stock.

RB Global Profile

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.