ArrowMark Colorado Holdings LLC Lowers Position in RB Global, Inc. $RBA

ArrowMark Colorado Holdings LLC decreased its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 54.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 529,089 shares of the business services provider’s stock after selling 624,680 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.28% of RB Global worth $57,332,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in RB Global by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock valued at $2,744,455,000 after acquiring an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in RB Global by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after acquiring an additional 705,423 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of RB Global by 10.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after acquiring an additional 672,450 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RB Global by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock worth $482,383,000 after acquiring an additional 317,781 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of RB Global by 4.9% in the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock valued at $440,353,000 after purchasing an additional 190,408 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 0.8%

NYSE:RBA opened at $98.66 on Friday. The company has a market cap of $18.34 billion, a P/E ratio of 48.36, a P/E/G ratio of 1.50 and a beta of 0.57. The stock’s fifty day moving average price is $108.33 and its two-hundred day moving average price is $106.24. RB Global, Inc. has a 1 year low of $87.87 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were paid a $0.31 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.24 annualized dividend and a yield of 1.3%. RB Global’s dividend payout ratio (DPR) is currently 60.78%.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares of the company’s stock, valued at $12,370,435. The trade was a 16.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RBA shares. Raymond James Financial raised their price target on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. BMO Capital Markets upped their price objective on shares of RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada lifted their target price on shares of RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Finally, National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a report on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, RB Global currently has an average rating of “Buy” and a consensus target price of $129.29.

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.