JARISLOWSKY FRASER Ltd Takes Position in RB Global, Inc. $RBA

JARISLOWSKY FRASER Ltd acquired a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,805,849 shares of the business services provider’s stock, valued at approximately $195,640,000. JARISLOWSKY FRASER Ltd owned 0.97% of RB Global at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in RBA. Signaturefd LLC boosted its holdings in RB Global by 7.4% during the third quarter. Signaturefd LLC now owns 4,837 shares of the business services provider’s stock worth $524,000 after buying an additional 332 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in RB Global in the 3rd quarter valued at approximately $812,000. Mather Group LLC. acquired a new stake in RB Global in the third quarter valued at $118,000. Ascent Group LLC increased its position in shares of RB Global by 6.0% in the third quarter. Ascent Group LLC now owns 17,035 shares of the business services provider’s stock valued at $1,846,000 after buying an additional 958 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of RB Global by 103.3% during the 3rd quarter. Diversified Trust Co now owns 44,890 shares of the business services provider’s stock worth $4,864,000 after buying an additional 22,810 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Price Performance

RB Global stock opened at $103.29 on Friday. RB Global, Inc. has a 1 year low of $86.68 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. The firm has a 50 day moving average price of $100.83 and a 200 day moving average price of $106.66. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 1.96 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business earned $0.71 EPS. RB Global’s revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.31 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. RB Global’s payout ratio is presently 59.33%.

Insider Buying and Selling

In other RB Global news, Director Deborah Stein purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the acquisition, the director owned 1,000 shares of the company’s stock, valued at approximately $101,260. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

RBA has been the subject of a number of research reports. Bank of America cut their target price on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. National Bankshares decreased their price objective on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. Finally, Royal Bank Of Canada boosted their target price on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.88.

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.