AQR Capital Management LLC Decreases Stake in RB Global, Inc. (NYSE:RBA)

AQR Capital Management LLC decreased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 18.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,147 shares of the business services provider’s stock after selling 929 shares during the period. AQR Capital Management LLC’s holdings in RB Global were worth $317,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of RB Global during the 1st quarter worth approximately $613,000. Price T Rowe Associates Inc. MD increased its stake in shares of RB Global by 25.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after purchasing an additional 74,809 shares during the last quarter. MJP Associates Inc. ADV increased its stake in shares of RB Global by 10.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after purchasing an additional 401 shares during the last quarter. Alaska Permanent Fund Corp increased its stake in shares of RB Global by 87.4% during the 1st quarter. Alaska Permanent Fund Corp now owns 67,797 shares of the business services provider’s stock worth $5,164,000 after purchasing an additional 31,610 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of RB Global by 21.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 452,402 shares of the business services provider’s stock worth $30,261,000 after purchasing an additional 79,701 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity

In other news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were 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 owns 86,247 shares in the company, valued at approximately $7,166,263.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related 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 value of $241,362.00. Following the transaction, the insider now owns 19,271 shares in the company, valued at $1,595,638.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,166,263.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,601 shares of company stock worth $3,720,043. 4.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RBA has been the subject of several research analyst reports. 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. Royal Bank of Canada raised their price objective on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets began coverage on shares of RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective for the company. Raymond James raised their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Bank of America raised their price objective on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and an average price target of $92.19.

RB Global Stock Down 2.6 %

Shares of NYSE:RBA opened at $78.71 on Thursday. The firm has a fifty day moving average price of $82.59 and a two-hundred day moving average price of $78.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. RB Global, Inc. has a one year low of $58.85 and a one year high of $87.45. The company has a market cap of $14.39 billion, a price-to-earnings ratio of 47.42, a PEG ratio of 5.27 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Analysts anticipate that RB Global, Inc. will post 1.92 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.47%. This is a boost from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is 69.88%.

RB Global 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.