Caldwell Investment Management Ltd. Purchases New Shares in RB Global, Inc. $RBA

Caldwell Investment Management Ltd. purchased a new position in shares of RB Global, Inc. (NYSE:RBAFree Report) (TSE:RBA) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 9,900 shares of the business services provider’s stock, valued at approximately $1,150,000. RB Global makes up 0.8% of Caldwell Investment Management Ltd.’s holdings, making the stock its 19th largest holding.

A number of other institutional investors also recently made changes to their positions in RBA. Personal CFO Solutions LLC lifted its position in shares of RB Global by 0.9% during the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 96 shares during the last quarter. Covestor Ltd boosted its position in RB Global by 11.6% during the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 97 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares during the period. Coldstream Capital Management Inc. grew its position in RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock worth $221,000 after purchasing an additional 105 shares during the last quarter. Finally, Sigma Planning Corp grew its holdings in RB Global by 1.4% in the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock worth $866,000 after buying an additional 114 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RBA has been the subject of several recent analyst reports. National Bank Financial increased their price objective on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a report on Tuesday, June 30th. Zacks Research cut RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Royal Bank Of Canada upped their price objective on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Stephens restated an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average target price of $128.00.

Get Our Latest Analysis on RBA

RB Global Stock Down 0.5%

Shares of RBA stock opened at $86.97 on Friday. RB Global, Inc. has a 12 month low of $82.03 and a 12 month high of $119.58. The firm has a market cap of $16.10 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56. The stock has a 50 day moving average of $105.76 and a 200-day moving average of $104.24. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBAGet Free Report) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, equities analysts predict that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, August 25th. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio is presently 53.22%.

RB Global Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RB Global, Inc. (NYSE:RBAFree Report) (TSE:RBA).

Institutional Ownership by Quarter for RB Global (NYSE:RBA)

Receive News & Ratings for RB Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RB Global and related companies with MarketBeat.com's FREE daily email newsletter.