US Bancorp DE Lowers Stock Holdings in RB Global, Inc. $RBA

US Bancorp DE reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,606 shares of the business services provider’s stock after selling 1,448 shares during the period. US Bancorp DE’s holdings in RB Global were worth $2,188,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its holdings in RB Global by 5.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 9,009 shares of the business services provider’s stock worth $957,000 after acquiring an additional 451 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in RB Global by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 52,100 shares of the business services provider’s stock worth $5,532,000 after acquiring an additional 400 shares during the last quarter. Shell Asset Management Co. raised its holdings in RB Global by 330.9% in the 2nd quarter. Shell Asset Management Co. now owns 27,471 shares of the business services provider’s stock worth $2,913,000 after acquiring an additional 21,095 shares during the last quarter. Hardy Reed LLC purchased a new position in RB Global in the 2nd quarter worth approximately $210,000. Finally, Running Oak Capital LLC raised its holdings in RB Global by 0.6% in the 2nd quarter. Running Oak Capital LLC now owns 163,060 shares of the business services provider’s stock worth $17,315,000 after acquiring an additional 905 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Raymond James Financial boosted their target price on shares of RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. National Bankshares decreased their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research note on Thursday, October 9th. BMO Capital Markets boosted their target price on shares of RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, CIBC boosted their target price on shares of RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research note on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average price target of $124.00.

RB Global Trading Down 0.6%

Shares of RBA stock opened at $105.20 on Thursday. RB Global, Inc. has a 1 year low of $78.55 and a 1 year high of $119.58. The firm has a fifty day moving average price of $112.99 and a 200-day moving average price of $107.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. The company has a market cap of $19.53 billion, a price-to-earnings ratio of 52.08, a PEG ratio of 2.46 and a beta of 0.65.

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, beating analysts’ consensus estimates of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.29. RB Global’s payout ratio is presently 61.39%.

Insider Activity

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.32% of the stock is currently owned by insiders.

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.