GAMMA Investing LLC Buys 267 Shares of RB Global, Inc. (NYSE:RBA)

GAMMA Investing LLC lifted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 29.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,179 shares of the business services provider’s stock after buying an additional 267 shares during the period. GAMMA Investing LLC’s holdings in RB Global were worth $95,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RBA. Vanguard Group Inc. lifted its stake in shares of RB Global by 5.1% in the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after buying an additional 1,153,497 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of RB Global by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after buying an additional 787,042 shares during the period. CIBC Asset Management Inc lifted its stake in shares of RB Global by 1,879.0% in the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after buying an additional 594,941 shares during the period. Principal Financial Group Inc. lifted its stake in shares of RB Global by 3,387.9% in the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after buying an additional 594,199 shares during the period. Finally, BW Gestao de Investimentos Ltda. lifted its stake in RB Global by 83.2% during the first quarter. BW Gestao de Investimentos Ltda. now owns 701,538 shares of the business services provider’s stock worth $53,436,000 after purchasing an additional 318,582 shares during the period. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. CIBC assumed coverage on shares of RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target for the company. BMO Capital Markets assumed coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target for the company. Bank of America raised their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Royal Bank of Canada raised their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird raised their price target on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.19.

Insider Activity at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at $7,166,263.23. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock valued at $3,720,043 over the last quarter. Corporate insiders own 4.32% of the company’s stock.

RB Global Stock Performance

NYSE RBA opened at $81.05 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The firm has a market cap of $14.82 billion, a price-to-earnings ratio of 48.83, a PEG ratio of 5.27 and a beta of 0.93. The company has a 50 day moving average of $82.55 and a 200-day moving average of $78.28. RB Global, Inc. has a 1-year low of $58.85 and a 1-year high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. RB Global’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. On average, equities analysts forecast that RB Global, Inc. will post 1.92 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is currently 69.88%.

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.