RB Global, Inc. $RBA Stock Holdings Increased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in RB Global, Inc. by 85.1% in the 2nd quarter, now owning approximately $99.5 million worth of the stock.
• RB Global recently declared a quarterly dividend increase to $0.31 per share from a previous $0.29, reflecting a positive trend in their dividend payout.
• After beating quarterly earnings estimates with $1.07 earnings per share, analysts have generally rated RB Global as a "Moderate Buy," with target prices in the $124.00 range.

TD Asset Management Inc raised its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 85.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 938,902 shares of the business services provider's stock after acquiring an additional 431,649 shares during the period. TD Asset Management Inc owned approximately 0.51% of RB Global worth $99,546,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RBA. Samlyn Capital LLC acquired a new position in shares of RB Global during the 1st quarter valued at $118,821,000. Third Point LLC acquired a new position in shares of RB Global during the 1st quarter valued at $95,285,000. Fiera Capital Corp increased its position in shares of RB Global by 17.3% during the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after purchasing an additional 557,407 shares during the period. Nuveen LLC acquired a new position in shares of RB Global during the 1st quarter valued at $54,584,000. Finally, Invesco Ltd. increased its position in shares of RB Global by 26.9% during the 1st quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock valued at $244,360,000 after purchasing an additional 516,865 shares during the period. Institutional investors own 95.37% of the company's stock.

Insider Buying and Selling at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.28% of the company's stock.

RB Global Stock Performance

Shares of NYSE RBA opened at $105.79 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $19.64 billion, a price-to-earnings ratio of 52.37, a PEG ratio of 2.44 and a beta of 0.65. The stock's fifty day simple moving average is $113.06 and its 200 day simple moving average is $107.02. RB Global, Inc. has a 52-week low of $78.55 and a 52-week high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. RB Global's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.31 per share. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, August 28th. RB Global's dividend payout ratio is presently 61.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Raymond James Financial lifted their price target on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. BMO Capital Markets lifted their price target on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Weiss Ratings upgraded RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a report on Saturday. Finally, CIBC lifted their target price on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $124.00.

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.

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