Covalis Capital LLP Has $16.43 Million Holdings in RB Global, Inc. (NYSE:RBA)

Covalis Capital LLP lifted its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 182,158 shares of the business services provider's stock after acquiring an additional 16,184 shares during the period. RB Global accounts for about 2.4% of Covalis Capital LLP's investment portfolio, making the stock its 12th largest position. Covalis Capital LLP owned approximately 0.10% of RB Global worth $16,432,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of RB Global by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 582,178 shares of the business services provider's stock worth $52,519,000 after buying an additional 71,354 shares during the period. First Trust Advisors LP boosted its stake in RB Global by 15.9% during the 4th quarter. First Trust Advisors LP now owns 30,783 shares of the business services provider's stock valued at $2,777,000 after purchasing an additional 4,224 shares during the period. Formula Growth Ltd. acquired a new stake in RB Global in the 4th quarter valued at approximately $2,909,000. First Commonwealth Financial Corp PA increased its position in RB Global by 3.7% in the 4th quarter. First Commonwealth Financial Corp PA now owns 8,996 shares of the business services provider's stock worth $812,000 after buying an additional 323 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of RB Global during the fourth quarter worth approximately $640,000. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Stock Up 0.9 %

Shares of RBA opened at $97.48 on Friday. The business's 50 day simple moving average is $98.15 and its 200-day simple moving average is $92.69. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The company has a market capitalization of $18.02 billion, a P/E ratio of 48.50, a PEG ratio of 4.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

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

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, February 14th. RB Global's dividend payout ratio (DPR) is presently 57.71%.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 7,597 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at $1,983,125.95. The trade was a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock worth $2,338,161 in the last quarter. Insiders own 4.32% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RBA. CIBC cut their price objective on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. National Bankshares decreased their price target 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, April 9th. Robert W. Baird increased their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Raymond James lifted their target price on shares of RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, RB Global currently has an average rating of "Moderate Buy" and an average target price of $108.56.

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.

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