Alberta Investment Management Corp Takes $5.87 Million Position in RB Global, Inc. $RBA

Alberta Investment Management Corp purchased a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,431 shares of the business services provider's stock, valued at approximately $5,865,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Personal CFO Solutions LLC increased its position in shares of RB Global by 0.9% in the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider's stock worth $1,073,000 after purchasing an additional 96 shares during the last quarter. Covestor Ltd grew its stake in RB Global by 11.6% in the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider's stock worth $96,000 after purchasing an additional 97 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after buying an additional 97 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in RB Global by 5.4% in the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider's stock valued at $221,000 after buying an additional 105 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in RB Global by 1.4% during the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider's stock valued at $866,000 after buying an additional 114 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

Insider Activity at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of the business's stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the acquisition, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RBA. Zacks Research downgraded RB Global from a "strong-buy" rating to a "hold" rating in a report on Thursday. Stephens reiterated an "equal weight" rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Barclays dropped their price target on RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of RB Global in a research note on Wednesday, August 5th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, RB Global has an average rating of "Moderate Buy" and a consensus price target of $128.00.

RB Global Trading Down 0.0%

NYSE:RBA opened at $84.24 on Monday. RB Global, Inc. has a 12-month low of $83.59 and a 12-month high of $119.58. The firm has a market capitalization of $15.60 billion, a P/E ratio of 36.15, a P/E/G ratio of 1.44 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The business has a 50 day simple moving average of $107.80 and a 200 day simple moving average of $105.21.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. Equities research analysts predict that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, August 25th. This is an increase from RB Global's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. RB Global's dividend payout ratio (DPR) is 53.22%.

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.

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