MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 2,806 Shares of RB Global, Inc. $RBA

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,160 shares of the business services provider’s stock after buying an additional 2,806 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in RB Global were worth $3,425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBA. Fiera Capital Corp raised its stake in RB Global by 17.3% in the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock valued at $379,150,000 after purchasing an additional 557,407 shares in the last quarter. Nuveen LLC bought a new position in RB Global in the first quarter valued at about $54,584,000. Invesco Ltd. grew its position in RB Global by 26.9% in the first quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider’s stock valued at $244,360,000 after acquiring an additional 516,865 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of RB Global by 44.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,508,784 shares of the business services provider’s stock worth $151,331,000 after purchasing an additional 463,844 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of RB Global during the fourth quarter worth about $39,080,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RBA opened at $117.21 on Friday. The stock’s 50-day simple moving average is $112.28 and its 200 day simple moving average is $105.34. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 58.03, a price-to-earnings-growth ratio of 2.76 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. RB Global, Inc. has a 52-week low of $78.08 and a 52-week high of $118.79.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. Research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 28th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 28th. This is an increase from RB Global’s previous quarterly dividend of $0.29. RB Global’s payout ratio is 61.39%.

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of the firm’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $5,022,380.00. Following the sale, the chief executive officer owned 107,569 shares of the company’s stock, valued at $11,832,590. This trade represents a 29.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the transaction, the insider directly owned 24,874 shares in the company, valued at approximately $2,736,140. This represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RBA. Royal Bank Of Canada boosted their price target on RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. National Bankshares boosted their price target on RB Global from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. CIBC upped their target price on RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research report on Friday, July 18th. Finally, National Bank Financial lowered RB Global from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 25th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

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.