Cidel Asset Management Inc. Sells 222,463 Shares of RB Global, Inc. $RBA

Cidel Asset Management Inc. decreased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 37.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 377,328 shares of the business services provider’s stock after selling 222,463 shares during the quarter. RB Global makes up 2.1% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 11th largest position. Cidel Asset Management Inc.’s holdings in RB Global were worth $43,912,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Addison Advisors LLC bought a new stake in RB Global in the 2nd quarter valued at about $26,000. J.Safra Asset Management Corp bought a new position in RB Global during the second quarter worth about $32,000. MV Capital Management Inc. bought a new position in RB Global during the fourth quarter worth about $29,000. Integrated Wealth Concepts LLC purchased a new position in shares of RB Global in the second quarter worth about $35,000. Finally, Bayban purchased a new position in shares of RB Global in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RBA. 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 note on Tuesday, June 30th. 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 report on Wednesday, August 5th. Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Finally, National Bank Financial lifted their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.00.

RB Global Trading Down 2.0%

RB Global stock opened at $81.88 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. RB Global, Inc. has a fifty-two week low of $81.50 and a fifty-two week high of $119.58. The stock has a market cap of $15.16 billion, a P/E ratio of 35.14, a PEG ratio of 1.43 and a beta of 0.52. The firm’s fifty day moving average price is $99.13 and its 200-day moving average price is $101.91.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts forecast that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. RB Global’s dividend payout ratio is 56.65%.

Insider Activity

In other RB Global news, Director Chloe Harford acquired 1,200 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was bought at an average price of $83.74 per share, with a total value of $100,488.00. Following the completion of the acquisition, the director owned 1,200 shares of the company’s stock, valued at $100,488. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.57% of the company’s stock.

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.