ProShare Advisors LLC Has $34.38 Million Stock Position in RB Global, Inc. $RBA

ProShare Advisors LLC grew its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 334,244 shares of the business services provider’s stock after buying an additional 7,718 shares during the period. ProShare Advisors LLC owned approximately 0.18% of RB Global worth $34,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caprock Group LLC acquired a new position in RB Global in the 3rd quarter worth $1,724,000. Cibc World Market Inc. boosted its stake in shares of RB Global by 60.7% during the 3rd quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider’s stock worth $19,461,000 after buying an additional 67,860 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of RB Global by 4.9% in the 3rd quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock valued at $440,353,000 after purchasing an additional 190,408 shares during the period. TD Asset Management Inc raised its holdings in shares of RB Global by 1.2% in the 3rd quarter. TD Asset Management Inc now owns 949,779 shares of the business services provider’s stock valued at $102,896,000 after purchasing an additional 10,877 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of RB Global by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock valued at $2,744,455,000 after purchasing an additional 124,926 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity at RB Global

In other RB Global news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

RB Global Price Performance

RBA stock opened at $103.19 on Wednesday. The company’s fifty day simple moving average is $101.28 and its 200 day simple moving average is $103.59. RB Global, Inc. has a 12-month low of $93.58 and a 12-month high of $119.58. The firm has a market cap of $19.18 billion, a price-to-earnings ratio of 47.99, a PEG ratio of 1.64 and a beta of 0.57. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts expect that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global’s dividend payout ratio is currently 57.67%.

Wall Street Analyst Weigh In

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. Royal Bank Of Canada increased their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Raymond James Financial lifted their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. BMO Capital Markets reissued an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, RB Global has an average rating of “Moderate Buy” and an average price target of $126.43.

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.