Cibc World Market Inc. Takes $17.14 Million Position in RB Global, Inc. $RBA

Cibc World Market Inc. purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 147,375 shares of the business services provider’s stock, valued at approximately $17,142,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its holdings in RB Global by 9.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock valued at $19,873,000 after acquiring an additional 17,489 shares during the last quarter. Wilson Asset Management International PTY Ltd. boosted its holdings in shares of RB Global by 8.5% during the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 139,295 shares of the business services provider’s stock worth $14,329,000 after purchasing an additional 10,951 shares during the last quarter. Bank of America Corp DE grew its position in shares of RB Global by 7.8% in the first quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock valued at $139,216,000 after purchasing an additional 104,560 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of RB Global by 20.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 173,358 shares of the business services provider’s stock valued at $17,833,000 after purchasing an additional 29,530 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC increased its holdings in shares of RB Global by 127.3% in the second quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider’s stock valued at $3,068,000 after purchasing an additional 14,755 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Trading Down 3.4%

RBA opened at $84.06 on Tuesday. The business’s 50 day moving average price is $105.23 and its 200 day moving average price is $103.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The stock has a market capitalization of $15.56 billion, a PE ratio of 36.08, a P/E/G ratio of 1.49 and a beta of 0.56. RB Global, Inc. has a one year low of $82.03 and a one year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. As a group, equities research analysts expect that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.6%. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. RB Global’s payout ratio is 53.22%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank Of Canada boosted their price objective on RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. Weiss Ratings lowered RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Barclays lowered their price target on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.00.

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.