RB Global, Inc. (NYSE:RBA) Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. boosted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 681,212 shares of the business services provider’s stock after acquiring an additional 2,344 shares during the quarter. RB Global accounts for about 4.1% of Cidel Asset Management Inc.’s portfolio, making the stock its 3rd biggest holding. Cidel Asset Management Inc. owned 0.37% of RB Global worth $61,452,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in shares of RB Global in the second quarter valued at about $402,000. Northwestern Mutual Wealth Management Co. boosted its holdings in RB Global by 30.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock worth $78,000 after buying an additional 241 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in RB Global in the 2nd quarter worth about $544,000. GAMMA Investing LLC increased its stake in RB Global by 29.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,179 shares of the business services provider’s stock worth $95,000 after buying an additional 267 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of RB Global by 6.3% during the third quarter. CWM LLC now owns 3,956 shares of the business services provider’s stock valued at $318,000 after acquiring an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

RB Global stock opened at $92.76 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $91.84 and a 200 day moving average price of $87.00. RB Global, Inc. has a 12-month low of $65.79 and a 12-month high of $99.79. The stock has a market cap of $17.14 billion, a P/E ratio of 50.41, a PEG ratio of 3.82 and a beta of 0.96.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, February 14th. RB Global’s dividend payout ratio is presently 63.04%.

Analyst Ratings Changes

RBA has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. CIBC lowered their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets increased their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird boosted their price target on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.21.

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.