Legal & General Group Plc Has $81.10 Million Stake in RB Global, Inc. $RBA

by · The Cerbat Gem

Legal & General Group Plc boosted its stake in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 4.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 764,671 shares of the business services provider’s stock after buying an additional 34,274 shares during the quarter. Legal & General Group Plc’s holdings in RB Global were worth $81,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RBA. Cidel Asset Management Inc. increased its position in RB Global by 1.8% during the 2nd quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after purchasing an additional 11,881 shares during the period. Montrusco Bolton Investments Inc. bought a new stake in shares of RB Global in the 2nd quarter valued at $19,717,000. Voya Investment Management LLC increased its position in shares of RB Global by 12.8% during the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock worth $3,389,000 after buying an additional 3,847 shares during the period. Kathmere Capital Management LLC bought a new position in RB Global during the second quarter worth $476,000. Finally, Wilson Asset Management International PTY Ltd. raised its stake in RB Global by 9.5% during the second quarter. Wilson Asset Management International PTY Ltd. now owns 159,402 shares of the business services provider’s stock worth $16,927,000 after buying an additional 13,814 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Transactions at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah Stein bought 1,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $101,260. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 4.32% of the stock is owned by company insiders.

RB Global Trading Up 2.0%

Shares of RB Global stock opened at $97.48 on Wednesday. The stock has a market capitalization of $18.10 billion, a PE ratio of 48.26, a price-to-earnings-growth ratio of 2.48 and a beta of 0.65. RB Global, Inc. has a 52 week low of $86.68 and a 52 week high of $119.58. The stock has a 50 day moving average price of $103.48 and a two-hundred day moving average price of $107.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. RB Global’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 26th. RB Global’s dividend payout ratio (DPR) is 59.33%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Raymond James Financial increased their price target on RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Royal Bank Of Canada boosted their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. National Bankshares reduced their price objective on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research report on Thursday, October 9th. Finally, National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price on the stock in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.88.

View Our Latest Stock Analysis on RB Global

RB Global Profile

(Free Report)

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.

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