Invesco Ltd. Increases Position in RB Global, Inc. (NYSE:RBA)

Invesco Ltd. lifted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,919,431 shares of the business services provider’s stock after purchasing an additional 106,627 shares during the quarter. Invesco Ltd.’s holdings in RB Global were worth $173,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RBA. Raymond James Financial Inc. bought a new position in RB Global in the 4th quarter worth about $266,148,000. Norges Bank bought a new position in shares of RB Global in the fourth quarter worth approximately $209,931,000. FMR LLC grew its holdings in shares of RB Global by 137.5% during the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after buying an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after acquiring an additional 753,700 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after acquiring an additional 358,752 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

RBA opened at $97.04 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $97.69 and a 200 day moving average of $92.30. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The stock has a market cap of $17.93 billion, a P/E ratio of 48.28, a PEG ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period last year, the business posted $0.82 earnings per share. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is 57.71%.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO James J. Jeter sold 600 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the transaction, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock worth $2,338,161 over the last 90 days. Company insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RBA shares. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. National Bankshares lowered their target price on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday. CIBC reduced their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada increased their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James lifted their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.56.

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.