Bank of Nova Scotia Has $23.25 Million Stock Holdings in RB Global, Inc. $RBA

Bank of Nova Scotia increased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 29.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,585 shares of the business services provider’s stock after acquiring an additional 48,987 shares during the quarter. Bank of Nova Scotia owned about 0.12% of RB Global worth $23,245,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Caprock Group LLC acquired a new position in RB Global in the third quarter valued at about $1,724,000. Cibc World Market Inc. lifted its holdings in shares of RB Global by 60.7% during the 3rd quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider’s stock valued at $19,461,000 after purchasing an additional 67,860 shares in the last quarter. Fiera Capital Corp grew its position 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 period. JCIC Asset Management Inc. bought a new stake in RB Global during the 3rd quarter worth approximately $3,621,000. Finally, Cidel Asset Management Inc. lifted its stake in RB Global by 2.7% in the third quarter. Cidel Asset Management Inc. now owns 708,463 shares of the business services provider’s stock valued at $76,753,000 after buying an additional 18,863 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Activity

In other RB Global news, 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 value of $2,385,330.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This trade represents a 16.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.28% of the company’s stock.

RB Global Trading Up 0.3%

NYSE RBA opened at $99.02 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02. The stock has a market capitalization of $18.41 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 1.50 and a beta of 0.57. RB Global, Inc. has a one year low of $87.87 and a one year high of $119.58. The business’s fifty day moving average is $108.22 and its 200-day moving average is $106.06.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 EPS. Equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, February 9th. RB Global’s payout ratio is presently 60.78%.

Analyst Ratings Changes

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

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.