QV Investors Inc. Has $43.88 Million Stake in RB Global, Inc. $RBA

QV Investors Inc. lifted its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 413,817 shares of the business services provider’s stock after acquiring an additional 3,004 shares during the period. RB Global makes up approximately 4.3% of QV Investors Inc.’s portfolio, making the stock its 7th biggest position. QV Investors Inc. owned approximately 0.22% of RB Global worth $43,875,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in RB Global by 28.6% in the 1st quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider’s stock valued at $161,000 after buying an additional 358 shares in the last quarter. Cidel Asset Management Inc. increased its position in RB Global by 1.8% in the 2nd quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after buying an additional 11,881 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new stake in RB Global in the 2nd quarter valued at about $19,717,000. Voya Investment Management LLC increased its position in RB Global by 12.8% in the 1st quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock valued at $3,389,000 after buying an additional 3,847 shares in the last quarter. Finally, Wilson Asset Management International PTY Ltd. increased its position in RB Global by 9.5% in the 2nd quarter. Wilson Asset Management International PTY Ltd. now owns 159,402 shares of the business services provider’s stock valued at $16,927,000 after buying an additional 13,814 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on RBA shares. Raymond James Financial boosted their target price on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their target price on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. National Bankshares decreased their price objective on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Finally, CIBC boosted their price objective on RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a report on Friday, July 18th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

Insider Activity

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.32% of the stock is currently owned by corporate insiders.

RB Global Price Performance

RB Global stock opened at $101.87 on Friday. RB Global, Inc. has a 12 month low of $84.31 and a 12 month high of $119.58. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $110.84 and its 200 day simple moving average is $107.34. The company has a market cap of $18.91 billion, a price-to-earnings ratio of 50.43, a PEG ratio of 2.37 and a beta of 0.65.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. RB Global’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were paid a $0.31 dividend. The ex-dividend date was Thursday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global’s dividend payout ratio (DPR) is currently 61.39%.

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.