Fiera Capital Corp Grows Position in RB Global, Inc. (NYSE:RBA)

Key Points

• Fiera Capital Corp increased its stake in RB Global by 17.3%, owning approximately $379.15 million worth of shares as of its latest SEC filing, which represents about 1.4% of its investment portfolio.
• RB Global reported a quarterly EPS of $0.89, matching analysts' expectations, with revenue of $1.06 billion, surpassing predicted figures of $1.02 billion and showing a 4.1% increase year-over-year.
• Recent insider activity includes significant stock sales by executives, with the CRO selling 2,000 shares and the CEO selling 45,658 shares, indicating a notable decrease in their respective holdings.

Fiera Capital Corp increased its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 17.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,773,914 shares of the business services provider's stock after buying an additional 557,407 shares during the quarter. RB Global accounts for about 1.4% of Fiera Capital Corp's investment portfolio, making the stock its 24th largest position. Fiera Capital Corp owned approximately 2.04% of RB Global worth $379,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC boosted its holdings in shares of RB Global by 74.5% in 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 during the last quarter. MV Capital Management Inc. boosted its holdings in shares of RB Global by 5,560.0% in 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 during the last quarter. IFP Advisors Inc boosted its holdings in shares of RB Global by 348.8% in 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 during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after buying an additional 104 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of RB Global by 1,870.9% in the first quarter. Allworth Financial LP now owns 1,084 shares of the business services provider's stock worth $107,000 after buying an additional 1,029 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Raymond James Financial lifted their price target on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. National Bankshares lowered their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. CIBC lifted their price target on shares of RB Global from $118.00 to $121.00 and gave the company an "outperformer" rating in a report on Friday, July 18th. Finally, National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $116.21.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company's stock, valued at approximately $11,832,590. The trade was a 29.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew John Fesler sold 9,075 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the sale, the insider directly owned 5,532 shares of the company's stock, valued at $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,133 shares of company stock valued at $7,843,729. Insiders own 4.32% of the company's stock.

RB Global Trading Down 0.0%

RBA stock traded down $0.02 during mid-day trading on Friday, reaching $108.24. 392,720 shares of the stock traded hands, compared to its average volume of 1,072,760. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. RB Global, Inc. has a one year low of $70.38 and a one year high of $111.71. The stock has a market capitalization of $20.08 billion, a PE ratio of 53.30, a PEG ratio of 2.50 and a beta of 0.77. The business has a 50-day moving average price of $106.56 and a two-hundred day moving average price of $100.74.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting analysts' consensus estimates of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. The business's revenue was up 4.1% compared to the same quarter last year. Equities research analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. RB Global's payout ratio is 57.14%.

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.