Addenda Capital Inc. Sells 18,702 Shares of RB Global, Inc. (NYSE:RBA)

Addenda Capital Inc. lowered its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 17.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,928 shares of the business services provider's stock after selling 18,702 shares during the quarter. Addenda Capital Inc.'s holdings in RB Global were worth $8,619,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RBA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in RB Global by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock valued at $3,674,000 after buying an additional 113 shares during the period. CoreCap Advisors LLC increased its position in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after purchasing an additional 117 shares during the period. Jones Financial Companies Lllp increased its position in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after purchasing an additional 129 shares during the period. Summit Trail Advisors LLC increased its position in shares of RB Global by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock valued at $279,000 after purchasing an additional 137 shares during the period. Finally, Claret Asset Management Corp increased its position in shares of RB Global by 1.6% during the 4th quarter. Claret Asset Management Corp now owns 10,233 shares of the business services provider's stock valued at $923,000 after purchasing an additional 163 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,983,125.95. This represents a 27.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew John Fesler sold 9,075 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the sale, the insider now directly owns 5,532 shares in the company, valued at approximately $579,311.04. This represents a 62.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,472 shares of company stock worth $3,867,745 in the last three months. Insiders own 4.32% of the company's stock.

RB Global Stock Performance

RB Global stock traded up $1.05 on Thursday, hitting $105.31. The company's stock had a trading volume of 446,063 shares, compared to its average volume of 1,130,964. The company has a fifty day moving average price of $101.02 and a 200-day moving average price of $97.02. RB Global, Inc. has a one year low of $70.38 and a one year high of $109.25. The firm has a market cap of $19.50 billion, a P/E ratio of 52.39, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. RB Global's dividend payout ratio (DPR) is presently 57.14%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen lowered RB Global from a "buy" rating to a "hold" rating in a report on Friday, May 30th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Raymond James lifted their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. BMO Capital Markets lifted their target price on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, CIBC boosted their price objective on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.50.

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.