Connor Clark & Lunn Investment Management Ltd. Has $86.21 Million Stock Holdings in RB Global, Inc. $RBA

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 31.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 796,056 shares of the business services provider’s stock after selling 372,783 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.43% of RB Global worth $86,205,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Caprock Group LLC acquired a new position in shares of RB Global in the 3rd quarter valued at approximately $1,724,000. Cibc World Market Inc. raised its holdings in RB Global by 60.7% during the 3rd quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider’s stock worth $19,461,000 after buying an additional 67,860 shares during the period. JCIC Asset Management Inc. bought a new position in RB Global in the third quarter valued at approximately $3,621,000. Fiera Capital Corp lifted its stake in RB Global by 4.9% in the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock valued at $440,353,000 after buying an additional 190,408 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its holdings in shares of RB Global by 2.7% in the third quarter. Cidel Asset Management Inc. now owns 708,463 shares of the business services provider’s stock valued at $76,753,000 after buying an additional 18,863 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of RBA stock opened at $102.17 on Thursday. RB Global, Inc. has a 12 month low of $87.87 and a 12 month high of $119.58. The company’s fifty day simple moving average is $108.52 and its 200-day simple moving average is $106.48. The firm has a market cap of $18.99 billion, a PE ratio of 50.08, a P/E/G ratio of 1.57 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect 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 2nd. Stockholders of record on Monday, February 9th were issued a $0.31 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global’s dividend payout ratio (DPR) is presently 60.78%.

Analyst Upgrades and Downgrades

RBA has been the subject of several research reports. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a report on Monday, November 24th. Raymond James Financial upped their target price on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. BMO Capital Markets increased their target price on RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Weiss Ratings raised RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada boosted their price target on RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $129.29.

Insider Activity

In related news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the sale, the chief executive officer owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.