Intact Investment Management Inc. Raises Stock Position in RB Global, Inc. $RBA

Intact Investment Management Inc. grew its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 69.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,152 shares of the business services provider's stock after buying an additional 107,060 shares during the period. Intact Investment Management Inc. owned approximately 0.14% of RB Global worth $26,783,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RBA. AQR Capital Management LLC grew its stake in shares of RB Global by 94.3% in the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider's stock worth $1,031,000 after buying an additional 5,090 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider's stock worth $59,000 after buying an additional 204 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider's stock worth $375,000 after buying an additional 3,346 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider's stock worth $33,940,000 after buying an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in shares of RB Global in the 1st quarter worth $4,103,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on RBA. Stephens began coverage on shares of RB Global in a research note on Friday, April 17th. They set an "equal weight" rating and a $96.00 price target for the company. Raymond James Financial lifted their price target on shares of RB Global from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 20th. BMO Capital Markets lifted their price target on shares of RB Global from $135.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 18th. Royal Bank Of Canada lifted their price target on shares of RB Global from $137.00 to $146.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings raised shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 26th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $125.13.

RB Global Price Performance

RBA stock opened at $105.00 on Monday. RB Global, Inc. has a 12 month low of $93.58 and a 12 month high of $119.58. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $100.81 and a 200 day moving average price of $103.41. The stock has a market cap of $19.52 billion, a PE ratio of 51.47, a P/E/G ratio of 1.59 and a beta of 0.57.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. Equities research analysts anticipate that RB Global, Inc. will post 4.04 earnings per share for the current year.

Insider Transactions at RB Global

In related news, Director Deborah Stein acquired 400 shares of the stock in a transaction on Wednesday, March 18th. The stock was bought at an average cost of $98.74 per share, with a total value of $39,496.00. Following the transaction, the director directly owned 1,400 shares in the company, valued at approximately $138,236. This represents a 40.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.57% of the stock is currently owned by company 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.