Cidel Asset Management Inc. Buys 2,344 Shares of RB Global, Inc. (NYSE:RBA)

Cidel Asset Management Inc. grew its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 681,212 shares of the business services provider’s stock after acquiring an additional 2,344 shares during the period. RB Global makes up 4.1% of Cidel Asset Management Inc.’s portfolio, making the stock its 3rd biggest holding. Cidel Asset Management Inc.’s holdings in RB Global were worth $61,452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Arlington Partners LLC raised its stake in RB Global by 22.3% in the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after buying an additional 8,961 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global during the 4th quarter worth about $27,000. CIBC Asset Management Inc lifted its stake in RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after purchasing an additional 357,761 shares during the last quarter. Diversified Trust Co boosted its holdings in RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after purchasing an additional 20,724 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after purchasing an additional 20,795 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of RBA opened at $92.76 on Friday. The company has a market capitalization of $17.14 billion, a price-to-earnings ratio of 50.41, a price-to-earnings-growth ratio of 3.82 and a beta of 0.96. RB Global, Inc. has a fifty-two week low of $65.79 and a fifty-two week high of $99.79. The firm has a 50-day simple moving average of $91.84 and a 200-day simple moving average of $87.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.25%. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Analyst Ratings Changes

Several analysts have recently weighed in on RBA shares. BMO Capital Markets boosted their price objective on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird boosted their price target on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. CIBC reduced their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.21.

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.