Caldwell Investment Management Ltd. Buys Shares of 9,900 RB Global, Inc. $RBA

Caldwell Investment Management Ltd. purchased a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,900 shares of the business services provider’s stock, valued at approximately $1,150,000. RB Global comprises about 0.8% of Caldwell Investment Management Ltd.’s holdings, making the stock its 19th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RBA. BlackRock Inc. purchased a new stake in RB Global in the second quarter valued at approximately $1,816,059,000. T. Rowe Price Investment Management Inc. grew its stake in shares of RB Global by 6,120,490.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock worth $251,851,000 after purchasing an additional 2,448,196 shares in the last quarter. Norges Bank acquired a new position in RB Global in the fourth quarter valued at approximately $231,813,000. Lazard Asset Management LLC purchased a new stake in RB Global in the first quarter valued at $210,091,000. Finally, EdgePoint Investment Group Inc. boosted its position in shares of RB Global by 14.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock valued at $845,337,000 after purchasing an additional 1,111,217 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RBA shares. Barclays decreased their target price on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings cut RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. National Bank Financial upped their price target on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. One investment 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, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

RB Global Stock Down 0.5%

RBA opened at $86.97 on Friday. RB Global, Inc. has a 1 year low of $82.03 and a 1 year high of $119.58. The firm has a 50 day moving average price of $105.76 and a 200 day moving average price of $104.24. 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 company has a market cap of $16.10 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56.

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

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.5%. RB Global’s dividend payout ratio (DPR) is currently 53.22%.

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.