Caisse DE Depot ET Placement DU Quebec Sells 28,896 Shares of RB Global, Inc. $RBA

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in RB Global, Inc. by 5.0%, selling 28,896 shares and owning 0.30% of the company worth approximately $55.47 million at the end of the quarter.
• RB Global announced a quarterly dividend of $0.31 per share, which represents an increase from the previous $0.29, with a yield of 1.1%.
• Analysts have shown mixed sentiments on RB Global, with recent upgrades and downgrades, leading to a consensus rating of "Moderate Buy" and an average price target of $124.33.

Caisse DE Depot ET Placement DU Quebec reduced its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 5.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 552,805 shares of the business services provider's stock after selling 28,896 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.30% of RB Global worth $55,474,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RBA. Marshall Wace LLP bought a new position in shares of RB Global during the 4th quarter valued at approximately $640,000. First Trust Advisors LP grew its stake in shares of RB Global by 15.9% during the 4th quarter. First Trust Advisors LP now owns 30,783 shares of the business services provider's stock valued at $2,777,000 after acquiring an additional 4,224 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of RB Global by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 582,178 shares of the business services provider's stock valued at $52,519,000 after acquiring an additional 71,354 shares during the period. MML Investors Services LLC grew its stake in shares of RB Global by 28.7% during the 4th quarter. MML Investors Services LLC now owns 13,179 shares of the business services provider's stock valued at $1,189,000 after acquiring an additional 2,938 shares during the period. Finally, MGO One Seven LLC grew its stake in shares of RB Global by 9.4% during the 4th quarter. MGO One Seven LLC now owns 3,353 shares of the business services provider's stock valued at $302,000 after acquiring an additional 287 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 45,658 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the sale, the chief executive officer owned 107,569 shares in the company, valued at approximately $11,832,590. This represents a 29.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Adam Dewitt sold 800 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the sale, the director owned 5,865 shares in the company, valued at $622,687.05. The trade was a 12.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,558 shares of company stock worth $6,314,145. Company insiders own 4.32% of the company's stock.

Analyst Ratings Changes

RBA has been the subject of a number of recent research reports. Wall Street Zen upgraded RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Raymond James Financial boosted their price target on RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. National Bankshares boosted their price target on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their price target on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and an average target price of $124.33.

RB Global Price Performance

Shares of RBA traded down $0.06 during mid-day trading on Friday, hitting $114.57. 805,743 shares of the stock were exchanged, compared to its average volume of 1,037,419. The company has a market cap of $21.26 billion, a PE ratio of 56.72, a price-to-earnings-growth ratio of 2.66 and a beta of 0.75. RB Global, Inc. has a 52-week low of $78.08 and a 52-week high of $118.23. The firm has a 50-day moving average of $110.19 and a two-hundred day moving average of $104.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. On average, equities analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.31 per share. This is a positive change from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global's payout ratio is currently 61.39%.

About RB Global

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.