Mawer Investment Management Ltd. Boosts Stock Holdings in RB Global, Inc. (NYSE:RBA)

Mawer Investment Management Ltd. lifted its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,924 shares of the business services provider’s stock after buying an additional 4,670 shares during the period. Mawer Investment Management Ltd.’s holdings in RB Global were worth $3,808,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RBA. SG Americas Securities LLC grew its holdings in RB Global by 120.4% in the 3rd quarter. SG Americas Securities LLC now owns 7,089 shares of the business services provider’s stock worth $443,000 after acquiring an additional 3,872 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of RB Global by 91.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,168 shares of the business services provider’s stock worth $5,231,000 after purchasing an additional 39,619 shares during the period. Advisor Partners II LLC bought a new position in RB Global in the third quarter worth about $221,000. Assetmark Inc. grew its holdings in shares of RB Global by 19.5% during the 3rd quarter. Assetmark Inc. now owns 4,285 shares of the business services provider’s stock worth $268,000 after acquiring an additional 699 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of RB Global by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 20,686 shares of the business services provider’s stock worth $1,293,000 after acquiring an additional 759 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 4.9 %

RBA opened at $76.48 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23. The company’s 50 day simple moving average is $74.45 and its two-hundred day simple moving average is $68.63. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of 46.07, a price-to-earnings-growth ratio of 5.75 and a beta of 0.88. RB Global, Inc. has a 1-year low of $51.07 and a 1-year high of $80.67.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. RB Global had a return on equity of 6.91% and a net margin of 8.08%. The firm’s quarterly revenue was up 134.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 earnings per share. Analysts expect that RB Global, Inc. will post 1.9 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, May 29th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Wednesday, May 29th. RB Global’s dividend payout ratio is currently 65.06%.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the transaction, the executive now owns 30,915 shares in the company, valued at approximately $2,359,432.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the sale, the executive now directly owns 30,915 shares in the company, valued at $2,359,432.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now directly owns 21,103 shares in the company, valued at approximately $1,625,986.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,816 shares of company stock valued at $1,133,055. Insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Raymond James boosted their price target on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, Scotiabank lifted their price objective on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

RB Global 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.