Dynamic Technology Lab Private Ltd Takes $1.36 Million Position in RB Global, Inc. (NYSE:RBA)

Dynamic Technology Lab Private Ltd purchased a new position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,920 shares of the business services provider’s stock, valued at approximately $1,362,000.

A number of other large investors also recently added to or reduced their stakes in RBA. EdgePoint Investment Group Inc. raised its position in shares of RB Global by 1.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock worth $652,590,000 after purchasing an additional 114,225 shares during the last quarter. Cooke & Bieler LP raised its holdings in shares of RB Global by 3.4% during the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock valued at $252,865,000 after acquiring an additional 109,056 shares during the last quarter. Fiera Capital Corp lifted its position in shares of RB Global by 5.7% in the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock valued at $239,881,000 after acquiring an additional 168,945 shares in the last quarter. Boston Partners boosted its stake in shares of RB Global by 4.1% in the first quarter. Boston Partners now owns 3,029,758 shares of the business services provider’s stock worth $230,543,000 after acquiring an additional 120,469 shares during the last quarter. Finally, Canoe Financial LP increased its position in shares of RB Global by 22.0% during the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock worth $113,900,000 after purchasing an additional 255,484 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Performance

RB Global stock opened at $97.83 on Wednesday. The firm has a 50 day simple moving average of $85.82 and a 200-day simple moving average of $81.47. The stock has a market cap of $18.04 billion, a price-to-earnings ratio of 53.17, a price-to-earnings-growth ratio of 4.70 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global, Inc. has a 1-year low of $60.84 and a 1-year high of $99.79.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a $0.29 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.19%. RB Global’s payout ratio is 63.04%.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Raymond James raised their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Bank of America upped their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Robert W. Baird raised their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.36.

About RB Global

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.