CIBC Asset Management Inc Has $80.08 Million Position in RB Global, Inc. (NYSE:RBA)

CIBC Asset Management Inc grew its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 57.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 984,364 shares of the business services provider's stock after purchasing an additional 357,761 shares during the quarter. CIBC Asset Management Inc owned about 0.53% of RB Global worth $80,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Intech Investment Management LLC purchased a new stake in RB Global during the 1st quarter valued at $613,000. Price T Rowe Associates Inc. MD boosted its holdings in RB Global by 25.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider's stock worth $27,927,000 after acquiring an additional 74,809 shares in the last quarter. Arlington Partners LLC raised its holdings 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 worth $3,958,000 after buying an additional 8,961 shares during the last quarter. MJP Associates Inc. ADV boosted its stake in RB Global by 10.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider's stock valued at $318,000 after purchasing an additional 401 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in RB Global by 1,177.0% in the 1st quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider's stock worth $3,319,000 after buying an additional 40,160 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Price Performance

Shares of NYSE RBA traded up $0.43 on Friday, hitting $92.79. The company's stock had a trading volume of 586,820 shares, compared to its average volume of 1,015,603. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The stock has a 50 day moving average of $84.30 and a 200-day moving average of $80.21. RB Global, Inc. has a 12-month low of $59.38 and a 12-month high of $94.85. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 4.47 and a beta of 0.92.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.25%. RB Global's payout ratio is currently 63.04%.

Analysts Set New Price Targets

RBA has been the subject of a number of research analyst reports. BMO Capital Markets raised their price objective on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday. Robert W. Baird upped their price objective on RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday. Raymond James boosted their price target 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 company an "outperform" rating in a report on Monday. Finally, Bank of America raised their price objective on RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.36.

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 2,915 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the sale, the insider now directly owns 19,271 shares of the company's stock, valued at $1,595,638.80. The trade was a 13.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,681 shares of company stock valued at $3,489,480 in the last 90 days. 4.32% of the stock is currently owned by 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.