PEAK6 LLC Buys New Stake in RB Global, Inc. $RBA

PEAK6 LLC purchased a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 48,448 shares of the business services provider’s stock, valued at approximately $5,642,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBA. BlackRock Inc. purchased a new position in shares of RB Global during the second quarter worth about $1,816,059,000. EdgePoint Investment Group Inc. lifted its holdings in shares of 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 purchasing an additional 1,111,217 shares during the last quarter. State Street Corp boosted its position in shares of RB Global by 1.7% in the 4th quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock valued at $647,118,000 after purchasing an additional 104,286 shares during the period. Royal Bank of Canada boosted its position in shares of 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 purchasing an additional 585,617 shares during the period. Finally, Geode Capital Management LLC grew its stake in RB Global by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock worth $513,930,000 after buying an additional 250,887 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RBA has been the topic of several research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, June 30th. Royal Bank Of Canada lifted their target price on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Finally, Barclays decreased their price target on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $128.00.

RB Global Trading Down 0.1%

Shares of RBA stock opened at $86.97 on Monday. The company has a market capitalization of $16.10 billion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $105.76 and its two-hundred day moving average is $104.17. RB Global, Inc. has a twelve month low of $82.03 and a twelve month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 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 business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Equities analysts forecast that RB Global, Inc. will post 4.06 EPS 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 given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, August 25th. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s payout ratio is currently 53.22%.

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.