Cibc World Market Inc. Sells 66,291 Shares of RB Global, Inc. $RBA

Cibc World Market Inc. lessened its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 36.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 113,416 shares of the business services provider’s stock after selling 66,291 shares during the quarter. Cibc World Market Inc.’s holdings in RB Global were worth $11,678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in RB Global by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock valued at $2,744,455,000 after purchasing an additional 124,926 shares during the period. Massachusetts Financial Services Co. MA increased its position in RB Global by 1.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock valued at $1,120,479,000 after purchasing an additional 165,260 shares during the period. Geode Capital Management LLC increased its position in RB Global by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock valued at $513,930,000 after purchasing an additional 250,887 shares during the period. Fiera Capital Corp increased its position 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 valued at $440,353,000 after purchasing an additional 190,408 shares during the period. Finally, Invesco Ltd. increased its position in RB Global by 17.7% during the 3rd quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider’s stock valued at $310,293,000 after purchasing an additional 430,729 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of RB Global stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the transaction, the director owned 1,825 shares in the company, valued at $188,248.75. This trade represents a 30.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

RB Global Stock Performance

Shares of RBA stock opened at $104.47 on Friday. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 48.59, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57. RB Global, Inc. has a 52 week low of $93.58 and a 52 week high of $119.58. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $102.77 and a 200-day moving average of $104.02.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. On average, equities analysts forecast that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Announces Dividend

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

Analyst Ratings Changes

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

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.