Wellington Management Group LLP Invests $201.81 Million in RB Global, Inc. $RBA

Wellington Management Group LLP acquired a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,734,133 shares of the business services provider’s stock, valued at approximately $201,813,000.

A number of other large investors have also recently added to or reduced their stakes in RBA. Addison Advisors LLC acquired a new position in RB Global during the second quarter worth about $26,000. MV Capital Management Inc. purchased a new stake in shares of RB Global in the fourth quarter valued at about $29,000. J.Safra Asset Management Corp acquired a new stake in shares of RB Global in the second quarter valued at approximately $32,000. Bayban purchased a new position in shares of RB Global during the 4th quarter worth approximately $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of RB Global during the 1st quarter worth approximately $43,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on RBA. Stephens reaffirmed an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. BMO Capital Markets reissued 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. Weiss Ratings cut RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $128.00.

Insider Buying and Selling at RB Global

In other RB Global news, Director Chloe Harford acquired 1,200 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the acquisition, the director directly owned 1,200 shares of the company’s stock, valued at $100,488. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by corporate insiders.

RB Global Stock Performance

Shares of NYSE RBA opened at $84.68 on Tuesday. The company has a 50-day simple moving average of $102.82 and a 200-day simple moving average of $102.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The company has a market cap of $15.68 billion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 1.47 and a beta of 0.56. RB Global, Inc. has a 12 month low of $82.03 and a 12 month high of $119.58.

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

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.6%. RB Global’s payout ratio is presently 56.65%.

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.