Goldman Sachs Group Inc. Increases Stock Position in RB Global, Inc. (NYSE:RBA)

Goldman Sachs Group Inc. grew its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 21.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 452,402 shares of the business services provider’s stock after acquiring an additional 79,701 shares during the period. Goldman Sachs Group Inc. owned about 0.25% of RB Global worth $30,261,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RBA. Cary Street Partners Investment Advisory LLC acquired a new position in RB Global in the 3rd quarter worth about $26,000. Oakworth Capital Inc. raised its stake in shares of RB Global by 53.3% during the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after buying an additional 162 shares during the period. GAMMA Investing LLC purchased a new position in shares of RB Global during the 4th quarter valued at approximately $54,000. Brown Brothers Harriman & Co. acquired a new stake in RB Global in the 4th quarter valued at $72,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in RB Global by 63.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 1,448 shares of the business services provider’s stock worth $97,000 after acquiring an additional 562 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Down 0.8 %

RB Global stock opened at $77.60 on Friday. The company has a market capitalization of $14.19 billion, a PE ratio of 46.75, a price-to-earnings-growth ratio of 5.35 and a beta of 0.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.17 and a current ratio of 1.29. RB Global, Inc. has a fifty-two week low of $55.09 and a fifty-two week high of $81.74. The firm has a 50 day moving average price of $74.84 and a 200 day moving average price of $71.30.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Research analysts expect that RB Global, Inc. will post 2.04 earnings per share for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, May 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.39%. RB Global’s dividend payout ratio is presently 65.06%.

Insider Activity

In related news, insider Baron Concors sold 13,230 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.05, for a total transaction of $992,911.50. Following the sale, the insider now directly owns 15,487 shares of the company’s stock, valued at approximately $1,162,299.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Baron Concors sold 13,230 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the completion of the transaction, the insider now directly owns 15,487 shares of the company’s stock, valued at approximately $1,162,299.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James J. Jeter sold 14,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total value of $1,056,020.00. Following the completion of the sale, the executive now directly owns 28,267 shares in the company, valued at approximately $2,132,179.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,867 shares of company stock valued at $3,370,272. 4.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RBA. Scotiabank lifted their target price on shares of RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 24th. CIBC initiated coverage on RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective for the company. Royal Bank of Canada lifted their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Raymond James increased their price objective on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, Bank of America upped their target price on shares of RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and an average price target of $84.14.

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.