RB Global, Inc. $RBA Stock Position Increased by AGF Management Ltd.

AGF Management Ltd. raised its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 23.2% in the third quarter, HoldingsChannel reports. The firm owned 163,808 shares of the business services provider’s stock after acquiring an additional 30,873 shares during the period. AGF Management Ltd.’s holdings in RB Global were worth $17,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in RBA. Spire Wealth Management raised its holdings in shares of RB Global by 1,090.6% during the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock valued at $41,000 after buying an additional 349 shares during the last quarter. State of Wyoming bought a new stake in RB Global during the 2nd quarter valued at $46,000. SouthState Corp raised its stake in RB Global by 75.6% during the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 195 shares in the last quarter. Whipplewood Advisors LLC boosted its position in RB Global by 42.9% during the 2nd quarter. Whipplewood Advisors LLC now owns 456 shares of the business services provider’s stock worth $48,000 after acquiring an additional 137 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Up 0.5%

NYSE RBA opened at $114.17 on Tuesday. RB Global, Inc. has a 12 month low of $86.68 and a 12 month high of $119.58. The company has a market capitalization of $21.22 billion, a P/E ratio of 54.62, a PEG ratio of 2.13 and a beta of 0.54. The company’s 50 day simple moving average is $106.38 and its 200 day simple moving average is $107.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.10. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business posted $0.71 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global’s payout ratio is 59.33%.

Wall Street Analyst Weigh In

RBA has been the topic of a number of recent analyst reports. Raymond James Financial lifted their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Bank of America decreased their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of RB Global in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada upped their target price on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.13.

Insider Buying and Selling at RB Global

In related news, Director Deborah Stein acquired 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the acquisition, the director owned 1,000 shares in the company, valued at approximately $101,260. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.28% of the company’s stock.

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.