Generali Asset Management SPA SGR Invests $812,000 in RB Global, Inc. $RBA

Generali Asset Management SPA SGR bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,498 shares of the business services provider’s stock, valued at approximately $812,000.

Other institutional investors also recently bought and sold shares of the company. Cidel Asset Management Inc. increased its holdings in shares of RB Global by 1.8% in the 2nd quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock worth $73,115,000 after buying an additional 11,881 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new position in shares of RB Global in the 2nd quarter valued at about $19,717,000. Voya Investment Management LLC grew its position in RB Global by 12.8% in the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock worth $3,389,000 after acquiring an additional 3,847 shares in the last quarter. Bank of Nova Scotia Trust Co. grew its position in RB Global by 4.7% in the second quarter. Bank of Nova Scotia Trust Co. now owns 74,316 shares of the business services provider’s stock worth $7,892,000 after acquiring an additional 3,361 shares in the last quarter. Finally, Kathmere Capital Management LLC bought a new stake in RB Global during the second quarter worth approximately $476,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RBA shares. Bank of America lowered their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target for the company in a research report on Monday, November 24th. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. National Bankshares reduced their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. Finally, Royal Bank Of Canada lifted their price target on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.88.

Insider Activity at RB Global

In related news, Director Deborah Stein purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was purchased at an average price of $101.26 per share, with a total value of $101,260.00. Following the completion of the purchase, the director owned 1,000 shares of the company’s stock, valued at approximately $101,260. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.

RB Global Stock Performance

Shares of RB Global stock opened at $103.29 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average is $100.83 and its two-hundred day moving average is $106.68. RB Global, Inc. has a 52 week low of $86.68 and a 52 week high of $119.58. The company has a market capitalization of $19.20 billion, a PE ratio of 49.42, a price-to-earnings-growth ratio of 1.96 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. As a group, analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, November 26th. RB Global’s dividend payout ratio is currently 59.33%.

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.