Moore Capital Management LP Purchases 169,755 Shares of RB Global, Inc. $RBA

Moore Capital Management LP lifted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 125.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 305,557 shares of the business services provider’s stock after buying an additional 169,755 shares during the period. Moore Capital Management LP’s holdings in RB Global were worth $31,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RBA. Norges Bank bought a new position in RB Global in the 4th quarter valued at approximately $231,813,000. T. Rowe Price Investment Management Inc. lifted its stake in RB Global by 4,084,132.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,633,693 shares of the business services provider’s stock valued at $168,058,000 after purchasing an additional 1,633,653 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in RB Global by 11.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock valued at $792,934,000 after purchasing an additional 821,319 shares during the last quarter. Kensico Capital Management Corp lifted its stake in RB Global by 152.0% in the 3rd quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock valued at $113,128,000 after purchasing an additional 629,700 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in RB Global by 16.4% in the 4th quarter. Janus Henderson Group PLC now owns 4,085,897 shares of the business services provider’s stock valued at $420,417,000 after purchasing an additional 576,347 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Stephens reissued an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. 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. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. Finally, Barclays assumed coverage on shares of RB Global in a research note on Thursday, May 28th. They issued an “overweight” rating and a $124.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.13.

Insider Activity

In other RB Global news, Director Deborah Stein purchased 425 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the purchase, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.57% of the company’s stock.

RB Global Price Performance

RBA stock opened at $107.39 on Thursday. The company has a fifty day moving average price of $104.47 and a 200-day moving average price of $104.64. The company has a market capitalization of $19.97 billion, a P/E ratio of 49.95, a PEG ratio of 1.77 and a beta of 0.57. RB Global, Inc. has a 52-week low of $93.58 and a 52-week high of $119.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. As a group, equities analysts expect that RB Global, Inc. will post 4.09 EPS for the current year.

RB Global Announces Dividend

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

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.