RB Global, Inc. (NYSE:RBA) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 683,118 shares of the business services provider's stock after selling 54,534 shares during the quarter. Mackenzie Financial Corp owned approximately 0.37% of RB Global worth $61,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBA. CoreCap Advisors LLC boosted its stake in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after buying an additional 117 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after buying an additional 129 shares during the last quarter. Whipplewood Advisors LLC bought a new position in RB Global during the fourth quarter valued at approximately $37,000. Geneos Wealth Management Inc. bought a new position in RB Global during the fourth quarter valued at approximately $40,000. Finally, SRS Capital Advisors Inc. boosted its stake in RB Global by 163.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider's stock valued at $58,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Analysts Set New Price Targets

RBA has been the subject of a number of research reports. Raymond James increased their price target on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. National Bankshares dropped their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. BMO Capital Markets lifted their target price on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, RB Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

Insider Transactions at RB Global

In other news, insider Andrew John Fesler sold 9,075 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the sale, the insider now owns 5,532 shares in the company, valued at $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the transaction, the executive now directly owns 20,267 shares of the company's stock, valued at $1,983,125.95. The trade was a 27.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,472 shares of company stock worth $3,867,745 over the last quarter. 4.32% of the stock is currently owned by insiders.

RB Global Stock Performance

RB Global stock traded up $1.07 during trading hours on Friday, hitting $104.95. 498,901 shares of the stock traded hands, compared to its average volume of 1,129,815. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The firm's 50 day moving average price is $100.58 and its 200-day moving average price is $96.67. The stock has a market capitalization of $19.43 billion, a price-to-earnings ratio of 52.19, a P/E/G ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a 1 year low of $70.27 and a 1 year high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The company's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.11%. RB Global's payout ratio is 57.14%.

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.