Kensico Capital Management Corp Boosts Stock Holdings in RB Global, Inc. $RBA

Kensico Capital Management Corp raised its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 152.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,044,000 shares of the business services provider’s stock after acquiring an additional 629,700 shares during the period. RB Global makes up 1.7% of Kensico Capital Management Corp’s portfolio, making the stock its 14th largest holding. Kensico Capital Management Corp’s holdings in RB Global were worth $113,128,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

RBA has been the topic of several recent research reports. Royal Bank Of Canada upped their price objective on RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Raymond James Financial boosted their price target on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. BMO Capital Markets upped their price target on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Finally, National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a research report on Monday, November 24th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $129.29.

RB Global Stock Up 0.8%

NYSE:RBA opened at $98.66 on Monday. RB Global, Inc. has a twelve month low of $87.87 and a twelve month high of $119.58. The stock has a fifty day simple moving average of $108.33 and a 200-day simple moving average of $106.17. The company has a market cap of $18.34 billion, a price-to-earnings ratio of 48.36, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. Analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. RB Global’s dividend payout ratio is 60.78%.

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.