Fiera Capital Corp Increases Stock Position in RB Global, Inc. $RBA

Key Points

• Fiera Capital Corp increased its stake in RB Global by 2.2% in the fourth quarter, buying 90,982 more shares and lifting its holding to 4.16 million shares worth about $428.2 million.
• RB Global’s recent earnings topped expectations, with EPS of $1.01 versus $0.97 expected and revenue of $1.21 billion, up 11.4% year over year.
• Analysts remain generally constructive on the stock: seven rate it Buy, one Hold, and the consensus price target stands at $126.13, while RB Global also declared a quarterly dividend of $0.31 per share.

Fiera Capital Corp raised its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,157,985 shares of the business services provider's stock after purchasing an additional 90,982 shares during the quarter. RB Global accounts for about 1.4% of Fiera Capital Corp's holdings, making the stock its 23rd biggest position. Fiera Capital Corp owned approximately 2.24% of RB Global worth $428,223,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division boosted its holdings in RB Global by 41.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock valued at $37,000 after purchasing an additional 107 shares in the last quarter. State of Wyoming purchased a new stake in RB Global in the 2nd quarter valued at approximately $46,000. Nemes Rush Group LLC purchased a new stake in RB Global in the 4th quarter valued at approximately $54,000. Geneos Wealth Management Inc. boosted its holdings in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock valued at $54,000 after purchasing an additional 97 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider's stock valued at $59,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stephens reissued an "equal weight" rating and set a $96.00 price target on shares of RB Global in a research note on Tuesday, May 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of RB Global in a research note on Tuesday, May 26th. BMO Capital Markets reissued an "outperform" rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Barclays assumed coverage on RB Global in a research note on Thursday, May 28th. They set an "overweight" rating and a $124.00 price target on the stock. Finally, Royal Bank Of Canada boosted their price target on RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $126.13.

RB Global Trading Down 0.0%

Shares of RB Global stock opened at $104.47 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58. The company has a market capitalization of $19.42 billion, a P/E ratio of 48.59, a P/E/G ratio of 1.66 and a beta of 0.57. The business has a 50 day moving average price of $102.77 and a 200 day moving average price of $104.06.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.RB Global's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. Sell-side analysts anticipate that RB Global, Inc. will post 4.09 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, May 27th. RB Global's dividend payout ratio is presently 57.67%.

Insider Activity at RB Global

In other news, Director Deborah Stein acquired 425 shares of the company's stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the acquisition, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.57% 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.

Want to see what other hedge funds are holding RBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.