TD Asset Management Inc Acquires 10,877 Shares of RB Global, Inc. $RBA

TD Asset Management Inc increased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 949,779 shares of the business services provider’s stock after acquiring an additional 10,877 shares during the quarter. TD Asset Management Inc’s holdings in RB Global were worth $102,896,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RBA. Caprock Group LLC acquired a new stake in RB Global during the 3rd quarter valued at approximately $1,724,000. Cibc World Market Inc. raised its stake in RB Global by 60.7% during the third 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 last quarter. JCIC Asset Management Inc. acquired a new position in RB Global in the third quarter valued at $3,621,000. Fiera Capital Corp grew its holdings in RB Global by 4.9% during the 3rd quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock worth $440,353,000 after acquiring an additional 190,408 shares during the period. Finally, Cidel Asset Management Inc. raised its position in shares of RB Global by 2.7% in the 3rd quarter. Cidel Asset Management Inc. now owns 708,463 shares of the business services provider’s stock worth $76,753,000 after acquiring an additional 18,863 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 2.2%

RBA opened at $99.06 on Thursday. The firm has a market capitalization of $18.41 billion, a PE ratio of 48.56, a P/E/G ratio of 1.47 and a beta of 0.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02. RB Global, Inc. has a fifty-two week low of $87.87 and a fifty-two week high of $119.58. The company’s 50-day moving average is $108.94 and its 200 day moving average is $107.41.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.95 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, February 9th. This represents a $1.24 annualized dividend and a yield of 1.3%. RB Global’s dividend payout ratio (DPR) is 60.78%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RB Global in a research note on Thursday, January 22nd. Bank of America dropped their target price on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. BMO Capital Markets lifted their price target on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada increased their price objective on shares of RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Finally, Raymond James Financial boosted their target price on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and an average target price of $129.29.

Insider Activity

In other news, CEO James Francis Kessler sold 20,742 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.32% of the stock is currently owned by insiders.

RB Global Company 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.