Cubist Systematic Strategies LLC Takes $569,000 Position in RB Global, Inc. (NYSE:RBA)

Cubist Systematic Strategies LLC bought a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,310 shares of the business services provider's stock, valued at approximately $569,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers boosted its stake in shares of RB Global by 3.6% in the fourth quarter. Cetera Investment Advisers now owns 40,020 shares of the business services provider's stock valued at $3,610,000 after purchasing an additional 1,403 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of RB Global by 25.6% in the fourth quarter. Benjamin Edwards Inc. now owns 16,714 shares of the business services provider's stock valued at $1,508,000 after purchasing an additional 3,405 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of RB Global in the fourth quarter valued at $1,578,000. Ancora Advisors LLC boosted its stake in shares of RB Global by 57.4% in the fourth quarter. Ancora Advisors LLC now owns 903,385 shares of the business services provider's stock valued at $81,494,000 after purchasing an additional 329,477 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of RB Global by 32.0% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 581,701 shares of the business services provider's stock valued at $52,475,000 after purchasing an additional 140,972 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Up 1.3%

Shares of NYSE:RBA opened at $106.87 on Friday. The stock has a market capitalization of $19.79 billion, a price-to-earnings ratio of 53.17, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a 1-year low of $70.27 and a 1-year high of $107.99. The company's fifty day moving average is $98.75 and its two-hundred day moving average is $95.35. 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 - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts' consensus estimates of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. Equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.09%. RB Global's dividend payout ratio (DPR) is 57.14%.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 15,700 shares of the 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 sale, the chief executive officer now owns 107,569 shares of the company's stock, valued at $10,521,323.89. This trade represents a 12.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now directly owns 20,267 shares in the company, valued at approximately $1,983,125.95. This trade represents a 27.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,472 shares of company stock valued at $3,653,825. Company insiders own 4.32% of the company's stock.

Analysts Set New Price Targets

RBA has been the subject of several analyst reports. CIBC upped their target price on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Royal Bank of Canada upped their price target on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. StockNews.com raised shares of RB Global from a "hold" rating to a "buy" rating in a report on Friday, May 9th. 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 report on Wednesday, February 19th. Finally, National Bankshares cut their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.50.

RB Global Company 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.

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