TD Asset Management Inc Sells 2,431 Shares of RB Global, Inc. (NYSE:RBA)

TD Asset Management Inc decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 599,493 shares of the business services provider’s stock after selling 2,431 shares during the quarter. TD Asset Management Inc’s holdings in RB Global were worth $45,713,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after buying an additional 1,153,497 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of RB Global by 1.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock worth $652,590,000 after acquiring an additional 114,225 shares in the last quarter. Vontobel Asset Management Inc. boosted its holdings in shares of RB Global by 66.5% in the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after acquiring an additional 2,655,388 shares during the period. Cooke & Bieler LP grew its position in shares of RB Global by 3.4% in the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock valued at $252,865,000 after purchasing an additional 109,056 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in shares of RB Global by 5.7% during the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock valued at $239,881,000 after purchasing an additional 168,945 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

RB Global stock opened at $82.66 on Friday. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $87.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The stock has a market cap of $15.11 billion, a P/E ratio of 49.80, a price-to-earnings-growth ratio of 5.50 and a beta of 0.93. The firm’s fifty day moving average price is $80.40 and its 200-day moving average price is $76.94.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts expect that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be given a $0.29 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 1.40%. RB Global’s payout ratio is presently 69.88%.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 3,637 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total value of $293,360.42. Following the completion of the sale, the insider now directly owns 17,279 shares in the company, valued at approximately $1,393,724.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO James Francis Kessler sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total transaction of $647,280.00. Following the transaction, the chief executive officer now directly owns 78,104 shares in the company, valued at approximately $6,319,394.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 3,637 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total value of $293,360.42. Following the completion of the sale, the insider now owns 17,279 shares of the company’s stock, valued at approximately $1,393,724.14. The disclosure for this sale can be found here. Insiders sold a total of 20,472 shares of company stock valued at $1,669,216 over the last quarter. 4.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on RBA. Robert W. Baird raised their target price on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets assumed coverage on shares of RB Global in a research report on Thursday. They issued an “outperform” rating and a $105.00 price objective for the company. Bank of America upped their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. CIBC initiated coverage on shares of RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price target for the company. Finally, Raymond James boosted their price target on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.19.

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.