Rice Hall James & Associates LLC Takes Position in RB Global, Inc. $RBA

Rice Hall James & Associates LLC bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 72,899 shares of the business services provider’s stock, valued at approximately $8,489,000.

Other hedge funds have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in RB Global during the 4th quarter worth $29,000. J.Safra Asset Management Corp bought a new stake in RB Global in the 2nd quarter valued at about $32,000. Bayban bought a new stake in RB Global in the 4th quarter valued at about $34,000. Cassaday & Co Wealth Management LLC bought a new stake in RB Global in the 1st quarter valued at about $43,000. Finally, State of Wyoming acquired a new position in shares of RB Global during the 2nd quarter worth approximately $46,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RBA has been the topic of several recent research reports. Zacks Research cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. BMO Capital Markets reissued an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings raised RB Global from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Finally, Royal Bank Of Canada lifted their price objective on RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.00.

RB Global Price Performance

RBA stock opened at $82.12 on Tuesday. The company’s 50-day moving average price is $107.35 and its two-hundred day moving average price is $104.96. The firm has a market cap of $15.20 billion, a P/E ratio of 35.24, a P/E/G ratio of 1.44 and a beta of 0.56. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. RB Global, Inc. has a 12 month low of $82.03 and a 12 month high of $119.58.

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

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This is an increase from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, August 25th. RB Global’s dividend payout ratio (DPR) is presently 53.22%.

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.