Caisse DE Depot ET Placement DU Quebec Grows Holdings in RB Global, Inc. (NYSE:RBA)

Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 440,729 shares of the business services provider’s stock after purchasing an additional 18,177 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in RB Global were worth $35,511,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of RBA. Verition Fund Management LLC boosted its stake in shares of RB Global by 271.1% during the third quarter. Verition Fund Management LLC now owns 46,397 shares of the business services provider’s stock worth $3,734,000 after buying an additional 33,896 shares during the period. Northwest & Ethical Investments L.P. acquired a new stake in RB Global during the 3rd quarter worth approximately $15,179,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of RB Global by 86.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,533 shares of the business services provider’s stock valued at $5,602,000 after purchasing an additional 32,235 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of RB Global by 37.8% in the third quarter. Glenmede Trust Co. NA now owns 4,292 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 1,178 shares during the period. Finally, FMR LLC raised its stake in shares of RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after purchasing an additional 445,004 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on RBA shares. Robert W. Baird boosted their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Bank of America lifted their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. BMO Capital Markets increased their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Raymond James lifted their price target on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.36.

RB Global Trading Up 0.1 %

Shares of RB Global stock opened at $97.76 on Monday. The company has a 50-day moving average of $86.88 and a two-hundred day moving average of $82.07. RB Global, Inc. has a 12-month low of $60.84 and a 12-month high of $99.79. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a market cap of $18.03 billion, a PE ratio of 53.13, a price-to-earnings-growth ratio of 4.70 and a beta of 0.92.

RB Global Announces Dividend

The company also recently disclosed 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. This represents a $1.16 annualized dividend and a yield of 1.19%. The ex-dividend date is Wednesday, November 27th. RB Global’s payout ratio is currently 63.04%.

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.