AGF Management Ltd. Increases Position in RB Global, Inc. (NYSE:RBA)

AGF Management Ltd. raised its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,867 shares of the business services provider’s stock after purchasing an additional 9,850 shares during the quarter. AGF Management Ltd. owned 0.07% of RB Global worth $11,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RBA. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global during the fourth quarter worth $27,000. Versant Capital Management Inc increased its position in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares during the period. Jones Financial Companies Lllp increased its position in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after acquiring an additional 129 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of RB Global during the fourth quarter worth $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of RB Global during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RBA shares. Royal Bank of Canada upped their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. BMO Capital Markets boosted their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Raymond James upped their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, 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 research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Stock Down 1.1 %

Shares of 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 50 day moving average price is $94.05 and its 200 day moving average price is $90.15. The firm has a market cap of $18.19 billion, a P/E ratio of 48.98, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion for 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 last year, the business posted $0.82 EPS. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. 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 dividend payout ratio is presently 57.71%.

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.