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

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

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

RB Global Price Performance

RBA stock opened at $108.99 on Wednesday. The company's fifty day moving average price is $99.46 and its 200-day moving average price is $95.89. RB Global, Inc. has a one year low of $70.27 and a one year high of $109.11. The company has a market capitalization of $20.18 billion, a PE ratio of 54.22, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. 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 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 return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company's quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

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 $0.29 dividend. The ex-dividend date is Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.06%. RB Global's dividend payout ratio is currently 57.14%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of RB Global from a "hold" rating to a "buy" rating in a report on Tuesday. CIBC boosted their price target on shares of RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Robert W. Baird increased their price objective on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. National Bankshares cut their target price 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. Finally, Royal Bank of Canada boosted their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $114.50.

Insider Buying and Selling

In related news, CRO James J. Jeter sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $106.96, for a total transaction of $213,920.00. Following the sale, the executive now directly owns 14,167 shares of the company's stock, valued at $1,515,302.32. This trade represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. The trade was a 12.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,472 shares of company stock valued at $3,867,745 over the last 90 days. Corporate insiders own 4.32% of the company's stock.

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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