TD Asset Management Inc Has $118.47 Million Holdings in RB Global, Inc. $RBA

Key Points

• TD Asset Management boosted its RB Global stake by 21% in the fourth quarter, ending with 1,149,508 shares worth about $118.47 million.
• RB Global reported strong quarterly results, with earnings of $1.01 per share and revenue of $1.21 billion, both ahead of analyst estimates; revenue rose 11.4% year over year.
• The company also announced a quarterly dividend of $0.31 per share, while analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $126.13.

TD Asset Management Inc increased its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 21.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,149,508 shares of the business services provider's stock after purchasing an additional 199,729 shares during the period. TD Asset Management Inc owned approximately 0.62% of RB Global worth $118,467,000 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 business. Vanguard Group Inc. lifted its holdings in shares of RB Global by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider's stock valued at $2,744,455,000 after purchasing an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in 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 acquiring an additional 165,260 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 250,887 shares in the last quarter. Fiera Capital Corp raised its holdings in 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 acquiring an additional 190,408 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in 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 acquiring an additional 430,729 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Up 3.1%

Shares of NYSE:RBA opened at $105.33 on Friday. The firm has a market cap of $19.58 billion, a P/E ratio of 48.99, a P/E/G ratio of 1.63 and a beta of 0.57. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. RB Global, Inc. has a 12-month low of $93.58 and a 12-month high of $119.58. The business has a fifty day simple moving average of $102.63 and a 200 day simple moving average of $104.02.

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

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global's dividend payout ratio (DPR) is currently 57.67%.

Analysts Set New Price Targets

Several analysts have issued reports on RBA shares. BMO Capital Markets restated an "outperform" rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Barclays initiated coverage on RB Global in a research report on Thursday, May 28th. They set an "overweight" rating and a $124.00 price target on the stock. Stephens reissued an "equal weight" rating and set a $96.00 price target on shares of RB Global in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of RB Global in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada raised their target price on RB Global from $146.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, RB Global currently has a consensus rating of "Moderate Buy" and an average price target of $126.13.

Insider Transactions at RB Global

In related news, Director Deborah Stein purchased 425 shares of the business's stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the purchase, the director owned 1,825 shares of the company's stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.57% of the company's stock.

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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