BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Invests $39.08 Million in RB Global, Inc. (NYSE:RBA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 433,540 shares of the business services provider's stock, valued at approximately $39,080,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.23% of RB Global as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. CoreCap Advisors LLC grew its position in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after buying an additional 117 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after purchasing an additional 129 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in RB Global in the fourth quarter valued at about $37,000. Geneos Wealth Management Inc. acquired a new position in RB Global in the fourth quarter valued at about $40,000. Finally, SRS Capital Advisors Inc. lifted its position in RB Global by 163.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider's stock worth $58,000 after purchasing an additional 400 shares during the period. 95.37% of the stock is owned by institutional investors.

RB Global Price Performance

RBA traded down $1.30 on Monday, reaching $107.24. The stock had a trading volume of 982,874 shares, compared to its average volume of 1,122,614. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a fifty-two week low of $70.27 and a fifty-two week high of $109.25. The firm has a 50-day moving average of $100.11 and a 200-day moving average of $96.37.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business earned $0.90 EPS. The firm's quarterly revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.08%. RB Global's dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling

In related news, insider Andrew John Fesler sold 9,075 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the sale, the insider now directly owns 5,532 shares in the company, valued at $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO James J. Jeter sold 600 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the sale, the executive now directly owns 19,667 shares of the company's stock, valued at $1,939,756.21. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,472 shares of company stock valued at $3,867,745 over the last 90 days. 4.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on RBA. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Robert W. Baird boosted their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. National Bankshares reduced their price objective on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets boosted their target price on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Raymond James increased their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.50.

About RB Global

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.