RB Global, Inc. $RBA Position Reduced by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc reduced its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,738 shares of the business services provider’s stock after selling 4,985 shares during the period. RB Global comprises approximately 1.4% of K.J. Harrison & Partners Inc’s holdings, making the stock its 14th biggest position. K.J. Harrison & Partners Inc’s holdings in RB Global were worth $8,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd lifted its position in shares of RB Global by 11.6% during the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock worth $96,000 after purchasing an additional 97 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after buying an additional 97 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in RB Global by 5.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after buying an additional 105 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after buying an additional 107 shares in the last quarter. Finally, Sigma Planning Corp lifted its holdings in RB Global by 1.4% during the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock worth $866,000 after buying an additional 114 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In related news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by insiders.

RB Global Stock Performance

Shares of RBA opened at $112.72 on Friday. The firm has a fifty day moving average of $106.89 and a 200-day moving average of $105.66. The company has a market cap of $20.96 billion, a price-to-earnings ratio of 52.43, a price-to-earnings-growth ratio of 1.76 and a beta of 0.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, beating 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 firm had revenue of $888.01 million for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.89 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that RB Global, Inc. will post 4.16 earnings per share for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, May 27th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s payout ratio is currently 57.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays began coverage on RB Global in a research report on Thursday, May 28th. They issued an “overweight” rating and a $124.00 target price for the company. 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 note on Tuesday, May 5th. Wall Street Zen raised shares of RB Global from a “hold” rating to a “buy” rating in a report on Saturday. Stephens reiterated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $126.12.

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.