CIBC Private Wealth Group LLC Boosts Holdings in RB Global, Inc. (NYSE:RBA)

CIBC Private Wealth Group LLC raised its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.3% during the 4th quarter, Holdings Channel reports. The firm owned 5,185 shares of the business services provider’s stock after purchasing an additional 763 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in RB Global were worth $468,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in RB Global in the 4th quarter valued at approximately $266,148,000. Norges Bank acquired a new position in shares of RB Global in the fourth quarter valued at approximately $209,931,000. Vontobel Holding Ltd. lifted its stake in shares of RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after purchasing an additional 753,700 shares during the period. National Bank of Canada FI lifted its position in RB Global by 309.6% during the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after buying an additional 610,843 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after acquiring an additional 358,752 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the transaction, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock worth $2,338,161 in the last three months. 4.32% of the stock is owned by insiders.

RB Global Trading Down 6.3 %

NYSE RBA opened at $91.91 on Friday. The stock has a market cap of $16.99 billion, a P/E ratio of 45.73, a PEG ratio of 4.95 and a beta of 0.90. The company’s fifty day simple moving average is $97.22 and its 200-day simple moving average is $91.91. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same quarter in the prior year, the firm earned $0.82 EPS. Equities research analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RBA shares. Raymond James increased their target price on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets lifted their price objective on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird increased their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.64.

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.