1,577,664 Shares in RB Global, Inc. $RBA Acquired by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec purchased a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the second quarter, Holdings Channel.com reports. The fund purchased 1,577,664 shares of the business services provider’s stock, valued at approximately $183,651,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of RB Global during the second quarter worth $1,816,059,000. Jupiter Topco LLC bought a new position in RB Global during the 2nd quarter worth approximately $514,871,000. T. Rowe Price Investment Management Inc. increased its position in shares of RB Global by 6,120,490.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock valued at $251,851,000 after buying an additional 2,448,196 shares in the last quarter. Norges Bank bought a new stake in shares of RB Global in the fourth quarter worth about $231,813,000. Finally, Lazard Asset Management LLC bought a new position in shares of RB Global during the 1st quarter valued at about $210,091,000. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 0.8%

Shares of NYSE:RBA opened at $85.71 on Thursday. The company’s 50-day moving average price is $104.29 and its two-hundred day moving average price is $103.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. RB Global, Inc. has a one year low of $82.03 and a one year high of $119.58. The stock has a market capitalization of $15.87 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 1.45 and a beta of 0.56.

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

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This is a positive change from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 1.5%. RB Global’s payout ratio is presently 56.65%.

Insider Activity

In related news, Director Chloe Harford acquired 1,200 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were bought at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the purchase, the director directly owned 1,200 shares in the company, valued at approximately $100,488. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on RBA shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $135.00 price target (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a research report on Tuesday, June 30th. Royal Bank Of Canada lifted their price target on RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Stephens reaffirmed an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. Finally, Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.00.

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.