Formula Growth Ltd. Invests $2.91 Million in RB Global, Inc. (NYSE:RBA)

Formula Growth Ltd. acquired a new position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 32,243 shares of the business services provider's stock, valued at approximately $2,909,000.

Several other large investors have also recently bought and sold shares of RBA. Central Pacific Bank Trust Division bought a new stake in shares of RB Global during the fourth quarter worth $27,000. Versant Capital Management Inc lifted its holdings in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock valued at $28,000 after buying an additional 176 shares during the period. Jones Financial Companies Lllp boosted its stake in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after acquiring an additional 129 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of RB Global during the 4th quarter valued at $36,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of RB Global during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analyst Weigh In

RBA has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price objective on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com lowered RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Robert W. Baird increased their price target on shares of RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Raymond James boosted their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, National Bankshares cut their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $108.56.

RB Global Stock Up 0.9 %

RB Global stock opened at $97.48 on Friday. The company has a 50 day moving average of $98.15 and a 200-day moving average of $92.69. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90. The stock has a market capitalization of $18.02 billion, a PE ratio of 48.50, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90.

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 company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the previous year, the company posted $0.82 earnings per share. On average, equities research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, February 14th. RB Global's dividend payout ratio is presently 57.71%.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 600 shares of RB Global stock in a transaction on Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares in the company, valued at $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,897 shares of company stock worth $2,338,161. Corporate insiders own 4.32% of the company's stock.

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.

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