Cibc World Market Inc. Takes Position in RB Global, Inc. $RBA

Key Points

• CIBC World Market Inc. acquired 147,375 shares of RB Global during the second quarter, valued at approximately $17.1 million. Institutional investors and hedge funds collectively own 95.37% of the company.
• RB Global exceeded quarterly earnings expectations, reporting $1.13 in EPS versus the $1.09 consensus and revenue of $1.66 billion compared with estimates of $1.21 billion.
• The company raised its quarterly dividend to $0.33 per share, while analysts maintain a generally positive view with a “Moderate Buy” consensus rating and an average price target of $128.

Cibc World Market Inc. bought a new position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 147,375 shares of the business services provider's stock, valued at approximately $17,142,000. Cibc World Market Inc. owned about 0.08% of RB Global as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Addison Advisors LLC purchased a new position in RB Global during the second quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new stake in RB Global in the 4th quarter worth approximately $29,000. J.Safra Asset Management Corp purchased a new stake in RB Global in the 2nd quarter worth approximately $32,000. Bayban acquired a new stake in shares of RB Global during the 4th quarter worth approximately $34,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of RB Global during the 1st quarter worth approximately $43,000. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Performance

NYSE:RBA opened at $84.06 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The stock has a market capitalization of $15.56 billion, a PE ratio of 36.08, a P/E/G ratio of 1.49 and a beta of 0.56. RB Global, Inc. has a fifty-two week low of $82.03 and a fifty-two week high of $119.58. The company has a fifty day moving average of $105.23 and a two-hundred day moving average of $103.96.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results 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. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.21 billion. As a group, research analysts forecast that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on RBA. Royal Bank Of Canada boosted their target price on shares of RB Global from $150.00 to $152.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Raymond James Financial upgraded shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price target on the stock in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of RB Global in a report on Wednesday, August 5th. Barclays lowered their target price on shares of RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Finally, Zacks Research cut RB Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, RB Global presently has an average rating of "Moderate Buy" and a consensus target price of $128.00.

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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