490,132 Shares in RB Global, Inc. $RBA Bought by Holocene Advisors LP

by · The Markets Daily

Holocene Advisors LP purchased a new stake in RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) during the 3rd quarter, HoldingsChannel reports. The firm purchased 490,132 shares of the business services provider’s stock, valued at approximately $53,111,000.

A number of other hedge funds have also added to or reduced their stakes in RBA. Caprock Group LLC bought a new stake in shares of RB Global during the 3rd quarter valued at about $1,724,000. Cibc World Market Inc. increased its position in shares of RB Global by 60.7% during the third quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider’s stock valued at $19,461,000 after buying an additional 67,860 shares during the period. Fiera Capital Corp raised its stake in RB Global by 4.9% in the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock worth $440,353,000 after buying an additional 190,408 shares in the last quarter. JCIC Asset Management Inc. bought a new position in RB Global in the third quarter worth about $3,621,000. Finally, Cidel Asset Management Inc. lifted its holdings in RB Global by 2.7% in the third quarter. Cidel Asset Management Inc. now owns 708,463 shares of the business services provider’s stock worth $76,753,000 after buying an additional 18,863 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares in the company, valued at approximately $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by company insiders.

RB Global Trading Up 0.3%

NYSE:RBA opened at $99.02 on Tuesday. The firm has a market capitalization of $18.41 billion, a P/E ratio of 48.54, a PEG ratio of 1.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02. RB Global, Inc. has a one year low of $87.87 and a one year high of $119.58. The company’s 50-day simple moving average is $108.22 and its 200 day simple moving average is $106.06.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last announced its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, February 9th. RB Global’s dividend payout ratio (DPR) is 60.78%.

Analysts Set New Price Targets

Several analysts have weighed in on RBA shares. Weiss Ratings raised RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Raymond James Financial increased their target price on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada raised their target price on RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. BMO Capital Markets lifted their price target on RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a research note on Monday, November 24th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $129.29.

View Our Latest Stock Analysis on RB Global

RB Global Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA).