Congruence Capital LLC Invests $6.93 Million in RB Global, Inc. $RBA

Congruence Capital LLC bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 67,316 shares of the business services provider’s stock, valued at approximately $6,925,000. RB Global makes up about 2.5% of Congruence Capital LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors also recently bought and sold shares of the stock. Central Pacific Bank Trust Division lifted its holdings in RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after buying an additional 107 shares during the period. State of Wyoming bought a new stake in RB Global during the 2nd quarter valued at approximately $46,000. Nemes Rush Group LLC purchased a new position in shares of RB Global during the 4th quarter worth approximately $54,000. Geneos Wealth Management Inc. grew its holdings in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after acquiring an additional 97 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after acquiring an additional 204 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

RB Global Stock Up 1.5%

RB Global stock opened at $107.74 on Friday. RB Global, Inc. has a 12 month low of $93.58 and a 12 month high of $119.58. The stock has a fifty day simple moving average of $103.79 and a two-hundred day simple moving average of $104.33. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. The firm has a market cap of $20.03 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 1.71 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last posted its 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. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business earned $0.89 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts predict that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Dividend Announcement

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

Analyst Upgrades and Downgrades

RBA has been the subject of a number of research analyst reports. Barclays assumed coverage on RB Global in a research note on Thursday, May 28th. They issued an “overweight” rating and a $124.00 target price for the company. Stephens reiterated an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Royal Bank Of Canada boosted their target price on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.13.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein bought 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the acquisition, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

RB Global 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.