RB Global, Inc. $RBA Shares Purchased by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,316 shares of the business services provider’s stock after acquiring an additional 3,361 shares during the quarter. Bank of Nova Scotia Trust Co.’s holdings in RB Global were worth $7,892,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its holdings in shares of RB Global by 0.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 176,539 shares of the business services provider’s stock valued at $18,747,000 after purchasing an additional 1,450 shares in the last quarter. Korea Investment CORP increased its holdings in RB Global by 22.3% in the second quarter. Korea Investment CORP now owns 123,266 shares of the business services provider’s stock valued at $13,069,000 after buying an additional 22,504 shares during the last quarter. Quadrant Capital Group LLC raised its stake in RB Global by 20.5% in the second quarter. Quadrant Capital Group LLC now owns 11,246 shares of the business services provider’s stock valued at $1,194,000 after buying an additional 1,915 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in RB Global by 27.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 77,504 shares of the business services provider’s stock worth $8,223,000 after buying an additional 16,787 shares during the last quarter. Finally, Aviso Financial Inc. lifted its holdings in RB Global by 3.7% during the 2nd quarter. Aviso Financial Inc. now owns 96,726 shares of the business services provider’s stock worth $10,274,000 after buying an additional 3,450 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

Shares of RBA opened at $97.90 on Friday. The company’s 50 day simple moving average is $102.67 and its 200-day simple moving average is $107.33. The firm has a market cap of $18.18 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 2.48 and a beta of 0.65. RB Global, Inc. has a 12-month low of $86.68 and a 12-month high of $119.58. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.83 by $0.10. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. RB Global’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. RB Global’s dividend payout ratio is 59.33%.

Insider Transactions at RB Global

In related news, Director Deborah Stein purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the transaction, the director directly owned 1,000 shares of the company’s stock, valued at approximately $101,260. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $118.15, for a total value of $254,140.65. The SEC filing for this sale provides additional information. Company insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RBA. BMO Capital Markets increased their price objective on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price target on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Raymond James Financial boosted their price objective on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. National Bankshares lowered 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 report on Thursday, October 9th. Finally, National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.88.

RB Global Company 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.