MJP Associates Inc. ADV Takes $213,000 Position in RB Global, Inc. (NYSE:RBA)

MJP Associates Inc. ADV purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,186 shares of the business services provider’s stock, valued at approximately $213,000.

Other hedge funds have also modified their holdings of the company. Tectonic Advisors LLC raised its holdings in RB Global by 92.1% during the fourth quarter. Tectonic Advisors LLC now owns 82,343 shares of the business services provider’s stock worth $5,508,000 after purchasing an additional 39,473 shares during the last quarter. Mutual Advisors LLC raised its holdings in RB Global by 6.9% during the fourth quarter. Mutual Advisors LLC now owns 4,786 shares of the business services provider’s stock worth $320,000 after purchasing an additional 309 shares during the last quarter. Diversified Trust Co raised its holdings in RB Global by 210.1% during the fourth quarter. Diversified Trust Co now owns 24,258 shares of the business services provider’s stock worth $1,623,000 after purchasing an additional 16,435 shares during the last quarter. Vanguard Group Inc. raised its holdings in RB Global by 144.9% during the third quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock worth $1,415,456,000 after purchasing an additional 13,400,942 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in RB Global by 24.2% during the third quarter. Wellington Management Group LLP now owns 933,652 shares of the business services provider’s stock worth $58,726,000 after purchasing an additional 182,028 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RBA shares. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Raymond James raised their price target on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Royal Bank of Canada upped their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Finally, Scotiabank upped their price target on RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.80.

RB Global Stock Performance

RBA traded down $0.58 during trading hours on Thursday, hitting $76.17. The company’s stock had a trading volume of 1,054,409 shares, compared to its average volume of 873,013. The company has a 50-day simple moving average of $70.71 and a 200 day simple moving average of $66.59. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $13.92 billion, a PE ratio of 89.61, a PEG ratio of 5.76 and a beta of 0.87. RB Global, Inc. has a fifty-two week low of $51.07 and a fifty-two week high of $77.99.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The firm’s quarterly revenue was up 134.5% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. As a group, sell-side analysts expect that RB Global, Inc. will post 1.88 EPS for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Thursday, February 8th. RB Global’s payout ratio is currently 127.06%.

Insider Buying and Selling at RB Global

In other news, insider Darren Jeffrey Watt sold 1,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now directly owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Darren Jeffrey Watt sold 1,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now directly owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the completion of the sale, the executive now directly owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,816 shares of company stock valued at $1,133,055. 4.32% of the stock is owned by corporate insiders.

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.