RB Global, Inc. (NYSE:RBA) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. grew its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 127,867 shares of the business services provider’s stock after purchasing an additional 9,850 shares during the period. AGF Management Ltd.’s holdings in RB Global were worth $11,541,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Central Pacific Bank Trust Division bought a new stake in shares of RB Global during the 4th quarter valued at about $27,000. CIBC Asset Management Inc grew its position in shares of RB Global by 57.1% during the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after buying an additional 357,761 shares during the last quarter. Diversified Trust Co grew its position in shares of RB Global by 48.9% during the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after buying an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in RB Global by 53.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after purchasing an additional 20,795 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its position in RB Global by 163.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock worth $58,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RBA has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. CIBC decreased their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. BMO Capital Markets upped their price target on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James upped their price target on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Stock Performance

NYSE:RBA opened at $98.46 on Wednesday. RB Global, Inc. has a 1 year low of $69.83 and a 1 year high of $106.90. The firm’s fifty day simple moving average is $94.05 and its 200 day simple moving average is $90.15. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $18.19 billion, a PE ratio of 48.98, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $0.82 earnings per share. On average, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s payout ratio is 57.71%.

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.