Osmosis Investment Management UK Ltd Makes New $824,000 Investment in RB Global, Inc. $RBA

Osmosis Investment Management UK Ltd bought a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,074 shares of the business services provider’s stock, valued at approximately $824,000.

A number of other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC grew its position in RB Global by 94.3% in the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after buying an additional 5,090 shares during the last quarter. NewEdge Advisors LLC raised its position in RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after buying an additional 204 shares during the last quarter. Jones Financial Companies Lllp raised its position in RB Global by 857.9% during the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after buying an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after acquiring an additional 88,813 shares during the period. Finally, Woodline Partners LP acquired a new stake in shares of RB Global in the 1st quarter worth $4,103,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RBA. Royal Bank Of Canada boosted their price target on shares of RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. 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 report 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. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.00.

RB Global Stock Down 3.4%

RBA opened at $84.06 on Tuesday. The business’s fifty day moving average is $105.23 and its two-hundred day moving average is $103.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The company has a market cap of $15.56 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 1.49 and a beta of 0.56. RB Global, Inc. has a one year low of $82.03 and a one year high of $119.58.

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

RB Global Increases Dividend

The firm 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 $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio is currently 53.22%.

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.