Federation des caisses Desjardins du Quebec Buys 22,372 Shares of RB Global, Inc. $RBA

Key Points

• The Federation des caisses Desjardins du Quebec has increased its stake in RB Global, Inc. by 3.8%, holding approximately 615,368 shares valued at around $61.24 million.
• RB Global recently announced a quarterly dividend increase to $0.31 per share, which will be paid on September 18th, representing an annual yield of 1.1%.
• Research analysts have raised their price targets for RB Global, with BMO Capital Markets setting a new target of $130.00 and Raymond James Financial adjusting theirs to $135.00, both maintaining an "outperform" rating.

Federation des caisses Desjardins du Quebec increased its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 615,368 shares of the business services provider's stock after buying an additional 22,372 shares during the quarter. Federation des caisses Desjardins du Quebec owned 0.33% of RB Global worth $61,236,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. SouthState Corp bought a new stake in RB Global during the first quarter worth $26,000. CoreCap Advisors LLC grew its holdings in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after buying an additional 117 shares in the last quarter. SVB Wealth LLC bought a new stake in RB Global during the first quarter worth $28,000. MV Capital Management Inc. grew its holdings in RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after buying an additional 278 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after buying an additional 279 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

NYSE:RBA traded down $1.01 during trading on Friday, reaching $115.02. The company's stock had a trading volume of 1,034,494 shares, compared to its average volume of 929,947. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of 56.94, a price-to-earnings-growth ratio of 2.68 and a beta of 0.65. RB Global, Inc. has a 12 month low of $78.08 and a 12 month high of $118.23. The firm has a 50 day moving average of $111.19 and a 200-day moving average of $104.88.

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

RB Global Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. National Bankshares upped 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. Royal Bank Of Canada upped 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. National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. CIBC upped their price objective on RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a research note on Friday, July 18th. Finally, BMO Capital Markets upped their price objective on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.33.

Insider Transactions at RB Global

In other news, insider Darren Jeffrey Watt sold 7,400 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 $814,000.00. Following the completion of the transaction, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This represents a 22.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $5,022,380.00. Following the transaction, the chief executive officer owned 107,569 shares of the company's stock, valued at $11,832,590. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,558 shares of company stock worth $6,314,145. 0.28% of the stock is owned by company 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.