CIBC Private Wealth Group LLC Grows Stock Holdings in RB Global, Inc. (NYSE:RBA)

CIBC Private Wealth Group LLC raised its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,185 shares of the business services provider’s stock after buying an additional 763 shares during the period. CIBC Private Wealth Group LLC’s holdings in RB Global were worth $468,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of RB Global by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock worth $3,674,000 after acquiring an additional 113 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock valued at $279,000 after buying an additional 137 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock valued at $64,000 after buying an additional 143 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Down 6.3 %

Shares of RB Global stock opened at $91.91 on Friday. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The company has a market cap of $16.99 billion, a P/E ratio of 45.73, a PEG ratio of 4.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The firm has a fifty day moving average of $97.22 and a two-hundred day moving average of $91.91.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company earned $0.82 earnings per share. On average, analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.26%. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank of Canada raised their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. CIBC dropped their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Raymond James lifted their target price on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets increased their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.64.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is owned by corporate insiders.

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.