Mackenzie Financial Corp Reduces Stake in RB Global, Inc. (NYSE:RBA)

Mackenzie Financial Corp lowered its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.4% in the 4th quarter, according to its most recent 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 0.37% of RB Global worth $61,590,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock valued at $2,248,060,000 after purchasing an additional 358,752 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock valued at $762,378,000 after buying an additional 753,700 shares during the period. Geode Capital Management LLC increased its position in RB Global by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock valued at $357,434,000 after buying an additional 264,778 shares in the last quarter. Janus Henderson Group PLC raised its stake in RB Global by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock worth $307,033,000 after buying an additional 19,895 shares during the period. Finally, Boston Partners raised its stake in RB Global by 6.9% during the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider's stock worth $298,500,000 after buying an additional 214,181 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Stock Down 1.0%

Shares of NYSE RBA traded down $1.10 during trading on Thursday, hitting $103.82. The stock had a trading volume of 916,875 shares, compared to its average volume of 1,130,092. The firm has a fifty day moving average of $100.51 and a two-hundred day moving average of $96.60. The company has a market capitalization of $19.22 billion, a PE ratio of 51.65, a PEG ratio of 4.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. RB Global, Inc. has a 12 month low of $70.27 and a 12 month high of $109.25.

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 EPS for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. As a group, equities research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.12%. RB Global's dividend payout ratio is currently 57.14%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BMO Capital Markets boosted their price objective on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Robert W. Baird boosted their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Royal Bank of Canada raised their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. CIBC lifted their price objective on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. Finally, Raymond James upped their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 2,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $106.96, for a total transaction of $213,920.00. Following the completion of the transaction, the executive now directly owns 14,167 shares of the company's stock, valued at approximately $1,515,302.32. This represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. The trade was a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,472 shares of company stock worth $3,867,745 in the last quarter. 4.32% of the stock is currently owned by company insiders.

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.