BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Makes New $39.08 Million Investment in RB Global, Inc. (NYSE:RBA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the fourth quarter, Holdings Channel reports. The fund purchased 433,540 shares of the business services provider’s stock, valued at approximately $39,080,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in 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 purchasing an additional 113 shares during the period. CoreCap Advisors LLC lifted its position in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after buying an additional 117 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 129 shares in the last quarter. Summit Trail Advisors LLC grew its stake in RB Global by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after buying an additional 137 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings 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 acquiring an additional 143 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on RBA. CIBC boosted their price objective on shares of RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Friday, May 9th. Robert W. Baird upped their target price on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. National Bankshares cut their price objective on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets upped their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price objective on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.50.

RB Global Stock Up 0.3%

RBA opened at $108.99 on Wednesday. The stock has a market cap of $20.18 billion, a P/E ratio of 54.22, a P/E/G ratio of 4.95 and a beta of 0.78. The stock’s 50 day moving average price is $99.46 and its 200 day moving average price is $95.89. RB Global, Inc. has a 12 month low of $70.27 and a 12 month high of $109.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s payout ratio is presently 57.14%.

Insider Buying and Selling at RB Global

In other news, insider Andrew John Fesler sold 9,075 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the transaction, the insider now directly owns 5,532 shares in the company, valued at $579,311.04. The trade was a 62.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,472 shares of company stock worth $3,867,745. 4.32% of the stock is currently owned by company insiders.

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.