TD Asset Management Inc Acquires 199,729 Shares of RB Global, Inc. $RBA

TD Asset Management Inc raised its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,149,508 shares of the business services provider’s stock after acquiring an additional 199,729 shares during the quarter. TD Asset Management Inc’s holdings in RB Global were worth $118,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in RBA. AQR Capital Management LLC grew its position in shares of RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after purchasing an additional 5,090 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 204 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of RB Global by 857.9% during the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after purchasing an additional 3,346 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of RB Global by 35.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after purchasing an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in shares of RB Global during the 1st quarter valued at $4,103,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Up 3.1%

RBA opened at $105.33 on Friday. The stock has a market cap of $19.58 billion, a PE ratio of 48.99, a P/E/G ratio of 1.63 and a beta of 0.57. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. RB Global, Inc. has a 52 week low of $93.58 and a 52 week high of $119.58. The business’s fifty day simple moving average is $102.63 and its 200 day simple moving average is $104.02.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that RB Global, Inc. will post 4.09 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, May 27th. RB Global’s dividend payout ratio is presently 57.67%.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RBA. Stephens reiterated an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Royal Bank Of Canada increased their target price on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Barclays assumed coverage on RB Global in a research note on Thursday, May 28th. They issued an “overweight” rating and a $124.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.13.

About RB Global

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.