Dynamic Technology Lab Private Ltd Invests $584,000 in RB Global, Inc. $RBA

Dynamic Technology Lab Private Ltd purchased a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,386 shares of the business services provider’s stock, valued at approximately $584,000.

A number of other large investors have also recently bought and sold shares of RBA. Caprock Group LLC bought a new position in shares of RB Global during the third quarter worth about $1,724,000. Cibc World Market Inc. lifted its position in shares of RB Global by 60.7% in the 3rd quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider’s stock worth $19,461,000 after purchasing an additional 67,860 shares during the period. JCIC Asset Management Inc. acquired a new position in shares of RB Global in the 3rd quarter worth approximately $3,621,000. Fiera Capital Corp boosted its stake in shares of RB Global by 4.9% in the 3rd quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock valued at $440,353,000 after purchasing an additional 190,408 shares during the last quarter. Finally, Cidel Asset Management Inc. boosted its stake in shares of RB Global by 2.7% in the 3rd quarter. Cidel Asset Management Inc. now owns 708,463 shares of the business services provider’s stock valued at $76,753,000 after purchasing an additional 18,863 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of analyst reports. BMO Capital Markets lifted their target price on shares of RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Raymond James Financial increased their price target on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada lifted their price objective on RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a research note on Monday, November 24th. Finally, Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $129.29.

RB Global Trading Down 2.3%

Shares of RB Global stock opened at $103.39 on Wednesday. The stock has a market capitalization of $19.22 billion, a PE ratio of 50.68, a price-to-earnings-growth ratio of 1.61 and a beta of 0.57. RB Global, Inc. has a 52 week low of $87.87 and a 52 week high of $119.58. The stock has a 50 day moving average price of $108.54 and a two-hundred day moving average price of $106.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. RB Global’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, February 9th. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global’s dividend payout ratio is presently 60.78%.

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.