Hillsdale Investment Management Inc. Has $8.68 Million Holdings in RB Global, Inc. $RBA

Key Points

• Hillsdale Investment Management reduced its stake in RB Global by 19% in the fourth quarter, selling 19,685 shares and leaving it with 84,125 shares worth about $8.68 million.
• RB Global reported better-than-expected quarterly results, posting EPS of $1.01 versus $0.97 expected and revenue of $1.21 billion versus $1.13 billion expected, with revenue up 11.4% year over year.
• The company also declared a quarterly dividend of $0.31 per share and received mostly positive analyst coverage, with a consensus rating of Moderate Buy and an average price target of $126.13.

Hillsdale Investment Management Inc. cut its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,125 shares of the business services provider's stock after selling 19,685 shares during the period. Hillsdale Investment Management Inc.'s holdings in RB Global were worth $8,676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in RB Global by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider's stock valued at $2,744,455,000 after buying an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of RB Global by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider's stock worth $1,120,479,000 after purchasing an additional 165,260 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider's stock worth $513,930,000 after purchasing an additional 250,887 shares in the last quarter. Fiera Capital Corp lifted its position in shares of RB Global by 4.9% during the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider's stock worth $440,353,000 after purchasing an additional 190,408 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of RB Global by 17.7% during the third quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider's stock worth $310,293,000 after purchasing an additional 430,729 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the purchase, the director directly 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 available at the SEC website. 0.57% of the stock is currently owned by company insiders.

RB Global Trading Up 0.4%

RBA opened at $106.40 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The company has a market cap of $19.78 billion, a price-to-earnings ratio of 49.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57. The firm has a 50 day simple moving average of $101.97 and a 200 day simple moving average of $103.90. RB Global, Inc. has a fifty-two week low of $93.58 and a fifty-two week high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. RB Global's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, sell-side analysts anticipate that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 27th. RB Global's payout ratio is 57.67%.

Analysts Set New Price Targets

RBA has been the topic of a number of research reports. Royal Bank Of Canada upped their target price on shares of RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. BMO Capital Markets reiterated an "outperform" rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Stephens reiterated an "equal weight" rating and set a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Weiss Ratings reiterated a "buy (b-)" rating on shares of RB Global in a research report on Tuesday. Finally, Barclays initiated coverage on shares of RB Global in a research report on Thursday. They set an "overweight" rating and a $124.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, RB Global has a consensus rating of "Moderate Buy" and an average price target of $126.13.

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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