First Hawaiian Bank Takes $329,000 Position in RB Global, Inc. (NYSE:RBA)

Posted by Defense World Staff on Jul 3rd, 2023

First Hawaiian Bank bought a new position in shares of RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,836 shares of the business services provider’s stock, valued at approximately $329,000.

A number of other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in RB Global by 19.2% during the first quarter. Invesco Ltd. now owns 4,652,139 shares of the business services provider’s stock worth $274,617,000 after acquiring an additional 747,804 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in RB Global by 25.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 4,307,036 shares of the business services provider’s stock worth $249,076,000 after acquiring an additional 880,158 shares during the period. Luxor Capital Group LP grew its holdings in RB Global by 95.9% during the fourth quarter. Luxor Capital Group LP now owns 4,209,222 shares of the business services provider’s stock worth $243,419,000 after acquiring an additional 2,060,511 shares during the period. Vanguard Group Inc. grew its holdings in RB Global by 3.5% during the third quarter. Vanguard Group Inc. now owns 3,904,134 shares of the business services provider’s stock worth $243,932,000 after acquiring an additional 132,767 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in RB Global by 13.5% during the fourth quarter. Eagle Asset Management Inc. now owns 3,671,100 shares of the business services provider’s stock worth $212,079,000 after acquiring an additional 435,255 shares during the period. 89.34% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Up 1.3 %

Shares of RBA stock opened at $60.00 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.30. The stock’s 50 day simple moving average is $55.92 and its 200 day simple moving average is $57.55. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 5.60 and a beta of 0.92. RB Global, Inc. has a twelve month low of $48.72 and a twelve month high of $72.73.

RB Global (NYSE:RBA – Free Report) (TSE:RBA) last issued its quarterly earnings results on Wednesday, May 10th. The business services provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.46 by ($0.74). The business had revenue of $512.40 million during the quarter, compared to the consensus estimate of $427.18 million. RB Global had a return on equity of 5.25% and a net margin of 6.13%. As a group, research analysts predict that RB Global, Inc. will post 1.53 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, May 26th. RB Global’s payout ratio is presently 110.20%.

Analyst Ratings Changes

A number of research firms recently weighed in on RBA. StockNews.com upgraded RB Global from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Robert W. Baird decreased their price target on RB Global from $66.00 to $64.00 in a research report on Monday, March 20th. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $61.00 price target for the company in a research report on Thursday, May 18th. OTR Global upgraded RB Global to a “positive” rating in a research report on Thursday, May 4th. Finally, National Bankshares upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Thursday, May 18th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.57.

Insider Transactions at RB Global

In other news, Director Robert George Elton acquired 1,471 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were bought at an average price of $54.15 per share, with a total value of $79,654.65. Following the acquisition, the director now owns 1,471 shares of the company’s stock, valued at $79,654.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert George Elton purchased 1,471 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average price of $54.15 per share, with a total value of $79,654.65. Following the purchase, the director now directly owns 1,471 shares in the company, valued at $79,654.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adam Dewitt purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average cost of $52.40 per share, for a total transaction of $104,800.00. Following the purchase, the director now owns 2,000 shares in the company, valued at $104,800. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 21,993 shares of company stock valued at $1,185,754. 4.32% of the stock is owned by corporate insiders.

About RB Global

(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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.