Triasima Portfolio Management inc. Has $12.07 Million Position in RB Global, Inc. $RBA

Triasima Portfolio Management inc. raised its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 47.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 111,450 shares of the business services provider’s stock after purchasing an additional 35,701 shares during the quarter. RB Global comprises 1.8% of Triasima Portfolio Management inc.’s holdings, making the stock its 12th biggest position. Triasima Portfolio Management inc.’s holdings in RB Global were worth $12,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of RB Global during the 2nd quarter worth $255,798,000. JARISLOWSKY FRASER Ltd acquired a new position in RB Global during the 3rd quarter worth $195,640,000. Massachusetts Financial Services Co. MA lifted its position in RB Global by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after acquiring an additional 705,423 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after acquiring an additional 672,450 shares during the period. Finally, TD Asset Management Inc grew its position in shares of RB Global by 85.1% in the second quarter. TD Asset Management Inc now owns 938,902 shares of the business services provider’s stock valued at $99,546,000 after purchasing an additional 431,649 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of RBA stock opened at $112.37 on Tuesday. The stock’s fifty day simple moving average is $103.03 and its 200 day simple moving average is $107.01. RB Global, Inc. has a one year low of $86.68 and a one year high of $119.58. The firm has a market cap of $20.89 billion, a price-to-earnings ratio of 53.69, a P/E/G ratio of 2.15 and a beta of 0.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.83 by $0.10. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 EPS. On average, analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global’s dividend payout ratio is currently 59.33%.

Analysts Set New Price Targets

A number of research firms have issued reports on RBA. Royal Bank Of Canada raised their target price on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. National Bankshares cut their price objective on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research report on Thursday, October 9th. Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Bank of America cut their price target on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a report on Friday, November 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $122.88.

Insiders Place Their Bets

In other news, Director Deborah Stein acquired 1,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $101,260. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.32% 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.