RB Global, Inc. $RBA Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 708,463 shares of the business services provider’s stock after purchasing an additional 18,863 shares during the quarter. RB Global comprises approximately 4.4% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 3rd largest position. Cidel Asset Management Inc. owned approximately 0.38% of RB Global worth $76,753,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Metis Global Partners LLC raised its stake in RB Global by 4.3% during the third quarter. Metis Global Partners LLC now owns 6,490 shares of the business services provider’s stock worth $703,000 after buying an additional 267 shares during the last quarter. Cibc World Market Inc. grew its holdings in 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 worth $19,461,000 after acquiring an additional 67,860 shares during the period. Caprock Group LLC bought a new position in shares of RB Global in the 3rd quarter worth about $1,724,000. MQS Management LLC lifted its stake in shares of RB Global by 47.6% in the 3rd quarter. MQS Management LLC now owns 5,158 shares of the business services provider’s stock valued at $559,000 after purchasing an additional 1,664 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of RB Global by 26.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,202 shares of the business services provider’s stock valued at $237,000 after purchasing an additional 463 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

RB Global Trading Up 1.0%

RBA opened at $101.95 on Friday. RB Global, Inc. has a fifty-two week low of $87.87 and a fifty-two week high of $119.58. The firm has a market capitalization of $18.95 billion, a PE ratio of 48.78, a P/E/G ratio of 1.91 and a beta of 0.54. 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 company’s 50-day moving average is $109.05 and its 200 day moving average is $107.85.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th. RB Global’s payout ratio is currently 59.33%.

Analysts Set New Price Targets

Several brokerages have issued reports on RBA. Royal Bank Of Canada boosted their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of RB Global in a research note on Thursday, January 22nd. Raymond James Financial lifted their price target on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Bank of America reduced their target price on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and an average price target of $126.00.

Insider Activity

In related news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction on 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 directly owned 107,569 shares in the company, valued at approximately $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.32% of the stock is currently owned by insiders.

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.