Caprock Group LLC Acquires New Stake in RB Global, Inc. $RBA

Caprock Group LLC bought a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,009 shares of the business services provider’s stock, valued at approximately $1,724,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in RB Global in the 2nd quarter worth about $255,798,000. JARISLOWSKY FRASER Ltd bought a new position in RB Global in the 3rd quarter worth about $195,640,000. Massachusetts Financial Services Co. MA increased its position in shares of RB Global by 7.0% during 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. Vontobel Holding Ltd. raised its stake in shares of RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after acquiring an additional 672,450 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of RB Global by 7.5% in the second 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 during the period. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RBA shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RB Global in a research report on Thursday, January 22nd. Bank of America cut their price target 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. Raymond James Financial upped their price objective on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. 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 research report on Friday, November 7th. Finally, Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $126.00.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 20,742 shares of the business’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 sale, the chief executive officer owned 107,569 shares in the company, valued at approximately $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.32% of the company’s stock.

RB Global Trading Up 1.0%

NYSE:RBA opened at $101.95 on Friday. RB Global, Inc. has a 52 week low of $87.87 and a 52 week high of $119.58. The firm has a 50 day moving average of $109.05 and a 200 day moving average of $107.86. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $18.95 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 1.89 and a beta of 0.54.

RB Global Dividend Announcement

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

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.