RB Global, Inc. $RBA Shares Bought by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. boosted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 63.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,055 shares of the business services provider’s stock after buying an additional 8,965 shares during the period. RB Global makes up approximately 0.2% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 25th largest holding. Armstrong Henry H Associates Inc.’s holdings in RB Global were worth $2,372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Caprock Group LLC acquired a new position in shares of RB Global during the 3rd quarter worth about $1,724,000. Cibc World Market Inc. boosted its holdings in 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 buying an additional 67,860 shares during the last quarter. Fiera Capital Corp increased its stake in RB Global by 4.9% during the 3rd quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock worth $440,353,000 after buying an additional 190,408 shares in the last quarter. JCIC Asset Management Inc. purchased a new stake in RB Global during the 3rd quarter worth approximately $3,621,000. Finally, Cidel Asset Management Inc. lifted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of RBA opened at $94.98 on Friday. The stock’s fifty day moving average is $107.37 and its 200-day moving average is $105.69. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. The firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of 46.56, a price-to-earnings-growth ratio of 1.46 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.

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

RB Global Dividend Announcement

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

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein bought 400 shares of the stock in a transaction on Wednesday, March 18th. The shares were purchased at an average cost of $98.74 per share, with a total value of $39,496.00. Following the completion of the transaction, the director directly owned 1,400 shares of the company’s stock, valued at $138,236. This represents a 40.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The SEC filing for this sale provides additional information. 4.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RBA shares. Royal Bank Of Canada upped their price target on RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. BMO Capital Markets raised their price target on shares of RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Raymond James Financial raised their target price on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note 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. Finally, National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a research report on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $129.29.

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.