Cooke & Bieler LP Sells 87,764 Shares of RB Global, Inc. $RBA

Cooke & Bieler LP trimmed its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,455,953 shares of the business services provider’s stock after selling 87,764 shares during the period. RB Global accounts for 2.6% of Cooke & Bieler LP’s investment portfolio, making the stock its 6th largest holding. Cooke & Bieler LP’s holdings in RB Global were worth $252,644,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kensico Capital Management Corp boosted its position in RB Global by 152.0% during the third quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock worth $113,128,000 after purchasing an additional 629,700 shares during the period. Bank of America Corp DE boosted its position in RB Global by 58.7% during the third quarter. Bank of America Corp DE now owns 1,533,783 shares of the business services provider’s stock worth $166,201,000 after purchasing an additional 567,431 shares during the period. Holocene Advisors LP bought a new position in RB Global during the third quarter worth $53,111,000. Invesco Ltd. boosted its position in RB Global by 17.7% during the third quarter. Invesco Ltd. now owns 2,863,540 shares of the business services provider’s stock worth $310,293,000 after purchasing an additional 430,729 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in RB Global by 135.2% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 624,563 shares of the business services provider’s stock worth $67,634,000 after purchasing an additional 359,049 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Stephens reissued an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Finally, Royal Bank Of Canada boosted their target price on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.43.

RB Global Trading Up 0.1%

RBA opened at $104.79 on Monday. RB Global, Inc. has a twelve month low of $93.58 and a twelve month high of $119.58. The company has a 50-day simple moving average of $101.30 and a 200 day simple moving average of $103.70. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of 48.74, a P/E/G ratio of 1.67 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. RB Global’s revenue was up 11.4% compared to the same quarter last year. Analysts predict that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.2%. RB Global’s dividend payout ratio is currently 57.67%.

Insiders Place Their Bets

In other news, Director Deborah Stein acquired 425 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.

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.