RB Global, Inc. $RBA Shares Bought by Cibc World Market Inc.

Cibc World Market Inc. grew its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 60.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 179,707 shares of the business services provider’s stock after purchasing an additional 67,860 shares during the period. Cibc World Market Inc. owned approximately 0.10% of RB Global worth $19,461,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in RBA. Vanguard Group Inc. boosted its holdings in RB Global by 1.2% during the second quarter. Vanguard Group Inc. now owns 25,205,500 shares of the business services provider’s stock worth $2,676,926,000 after buying an additional 289,094 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of RB Global by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after acquiring an additional 705,423 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of RB Global by 10.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after acquiring an additional 672,450 shares during the period. Geode Capital Management LLC increased its stake in RB Global by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock valued at $482,383,000 after purchasing an additional 317,781 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in RB Global by 2.7% in the 2nd quarter. Fiera Capital Corp now owns 3,876,595 shares of the business services provider’s stock valued at $411,586,000 after purchasing an additional 102,681 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. The trade was a 16.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RBA has been the topic of several research reports. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price on the stock in a report on Monday, November 24th. Royal Bank Of Canada raised their target price on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Bank of America lowered their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of RB Global in a research report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

RB Global Stock Performance

NYSE:RBA opened at $100.81 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15. The firm has a market cap of $18.74 billion, a PE ratio of 48.23, a P/E/G ratio of 2.13 and a beta of 0.54. The firm has a 50 day simple moving average of $109.01 and a 200-day simple moving average of $107.90. RB Global, Inc. has a 1-year low of $87.87 and a 1-year high of $119.58.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, February 9th. RB Global’s dividend payout ratio is presently 59.33%.

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.