Arvin Capital Management LP Purchases 60,896 Shares of RB Global, Inc. $RBA

Arvin Capital Management LP raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 64.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,996 shares of the business services provider’s stock after purchasing an additional 60,896 shares during the quarter. RB Global accounts for about 3.0% of Arvin Capital Management LP’s holdings, making the stock its 12th biggest holding. Arvin Capital Management LP owned about 0.08% of RB Global worth $16,047,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in shares of RB Global during the fourth quarter worth about $3,110,000. The Manufacturers Life Insurance Company raised its position in shares of RB Global by 29.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,410,137 shares of the business services provider’s stock worth $248,592,000 after acquiring an additional 541,144 shares during the last quarter. UMB Bank n.a. raised its position in shares of RB Global by 5.5% during the fourth quarter. UMB Bank n.a. now owns 2,551 shares of the business services provider’s stock worth $262,000 after acquiring an additional 133 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of RB Global by 5.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,330 shares of the business services provider’s stock worth $244,000 after acquiring an additional 128 shares during the last quarter. Finally, Bank of Nova Scotia raised its position in shares of RB Global by 26.1% during the fourth quarter. Bank of Nova Scotia now owns 270,666 shares of the business services provider’s stock worth $27,865,000 after acquiring an additional 56,081 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other RB Global news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the purchase, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is owned by corporate insiders.

RB Global Trading Up 1.5%

NYSE RBA opened at $107.74 on Friday. The business has a 50 day simple moving average of $103.79 and a 200 day simple moving average of $104.33. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The stock has a market capitalization of $20.03 billion, a P/E ratio of 50.11, a P/E/G ratio of 1.71 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Research analysts expect that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Dividend Announcement

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

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.