Caprock Group LLC Makes New $1.72 Million Investment in RB Global, Inc. $RBA

Caprock Group LLC acquired a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the third quarter, Holdings Channel reports. The institutional investor acquired 15,009 shares of the business services provider’s stock, valued at approximately $1,724,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RBA. Cidel Asset Management Inc. boosted its position in RB Global by 1.8% in the second quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after buying an additional 11,881 shares during the last quarter. JCIC Asset Management Inc. acquired a new stake in RB Global during the 3rd quarter valued at approximately $3,621,000. Triasima Portfolio Management inc. boosted its holdings in shares of RB Global by 47.1% in the 3rd quarter. Triasima Portfolio Management inc. now owns 111,450 shares of the business services provider’s stock valued at $12,074,000 after acquiring an additional 35,701 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of RB Global by 7.0% in the third 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 during the period. Finally, Bank of Nova Scotia Trust Co. increased its stake in shares of RB Global by 4.7% in the second quarter. Bank of Nova Scotia Trust Co. now owns 74,316 shares of the business services provider’s stock worth $7,892,000 after acquiring an additional 3,361 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE RBA opened at $101.95 on Friday. The firm has a market cap of $18.95 billion, a PE ratio of 48.78, a PEG ratio of 1.89 and a beta of 0.54. The firm has a fifty day moving average of $109.05 and a 200 day moving average of $107.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. RB Global, Inc. has a one year low of $87.87 and a one year high of $119.58.

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 paid 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 1.2%. RB Global’s payout ratio is currently 59.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank Of Canada 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 Friday, November 7th. Bank of America lowered their target price on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. 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. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Raymond James Financial upped their price objective on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

Insiders Place Their Bets

In related 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 sale, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.32% of the company’s stock.

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.