RB Global, Inc. $RBA Position Lowered by Moore Capital Management LP

Moore Capital Management LP trimmed its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 77.8% in the second quarter, Holdings Channel reports. The firm owned 32,517 shares of the business services provider’s stock after selling 114,003 shares during the quarter. Moore Capital Management LP’s holdings in RB Global were worth $3,787,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RBA. BlackRock Inc. acquired a new stake in RB Global during the second quarter valued at approximately $1,816,059,000. EdgePoint Investment Group Inc. increased 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 acquiring an additional 1,111,217 shares during the last quarter. State Street Corp increased its holdings 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 acquiring an additional 104,286 shares during the last quarter. Royal Bank of Canada raised its position in shares of RB Global by 13.1% during 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 acquiring an additional 585,617 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock worth $513,930,000 after purchasing an additional 250,887 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

RB Global Trading Down 1.6%

NYSE:RBA opened at $84.68 on Tuesday. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 1.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. RB Global, Inc. has a 1 year low of $82.03 and a 1 year high of $119.58. The business has a fifty day moving average of $102.82 and a 200-day moving average of $102.84.

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

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be paid a dividend of $0.33 per share. This is a boost from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, August 25th. RB Global’s dividend payout ratio (DPR) is 56.65%.

Insider Buying and Selling

In other news, Director Chloe Harford acquired 1,200 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were bought at an average price of $83.74 per share, with a total value of $100,488.00. Following the purchase, the director owned 1,200 shares of the company’s stock, valued at approximately $100,488. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RBA. BMO Capital Markets reiterated an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Weiss Ratings downgraded RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, RB Global has a consensus rating of “Moderate Buy” and an average target price of $128.00.

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.