Cubist Systematic Strategies LLC Acquires 15,610 Shares of RB Global, Inc. (NYSE:RBA)

Cubist Systematic Strategies LLC increased its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 908.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,328 shares of the business services provider’s stock after buying an additional 15,610 shares during the period. Cubist Systematic Strategies LLC’s holdings in RB Global were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in shares of RB Global by 8.9% in the 4th quarter. Wells Fargo & Company MN now owns 132,663 shares of the business services provider’s stock worth $8,874,000 after acquiring an additional 10,867 shares in the last quarter. Franklin Resources Inc. raised its holdings in RB Global by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 13,228 shares of the business services provider’s stock worth $885,000 after purchasing an additional 601 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of RB Global during the fourth quarter valued at about $72,000. CIBC Asset Management Inc boosted its holdings in shares of RB Global by 51.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,975 shares of the business services provider’s stock valued at $1,005,000 after buying an additional 5,075 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in shares of RB Global in the 4th quarter worth approximately $284,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE:RBA opened at $80.04 on Wednesday. RB Global, Inc. has a twelve month low of $58.85 and a twelve month high of $87.45. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The company has a market cap of $14.63 billion, a PE ratio of 48.22, a price-to-earnings-growth ratio of 5.38 and a beta of 0.93. The company’s 50 day moving average is $82.04 and its 200 day moving average is $77.98.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. On average, sell-side analysts forecast that RB Global, Inc. will post 1.96 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, August 28th. This is a boost from RB Global’s previous quarterly dividend of $0.27. RB Global’s payout ratio is 69.88%.

Analyst Ratings Changes

A number of research firms recently commented on RBA. Royal Bank of Canada increased their target price on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets began coverage on RB Global in a research report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective for the company. Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird raised their price target on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Bank of America upped their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $92.19.

Insider Transactions at RB Global

In related news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares in the company, valued at $1,837,162.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,261,134.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. The disclosure for this sale can be found here. Insiders have sold 44,601 shares of company stock worth $3,720,043 over the last quarter. 4.32% of the stock is currently owned by insiders.

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.