Montrusco Bolton Investments Inc. Has $14.88 Million Holdings in RB Global, Inc. $RBA

Key Points

• Montrusco Bolton Investments cut its RB Global stake by 7% in Q1, selling 11,710 shares and ending with 155,700 shares valued at about $14.88 million.
• RB Global reported better-than-expected earnings of $1.01 per share, though quarterly revenue of $888.01 million fell short of analyst estimates; revenue still rose 11.4% year over year.
• The company recently paid a quarterly dividend of $0.31 per share, while analysts remain broadly positive with a consensus Buy rating and average price target of $126.12.

Montrusco Bolton Investments Inc. lessened its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,700 shares of the business services provider's stock after selling 11,710 shares during the period. Montrusco Bolton Investments Inc. owned about 0.08% of RB Global worth $14,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MV Capital Management Inc. acquired a new position in RB Global during the 4th quarter worth approximately $29,000. Bayban acquired a new stake in shares of RB Global in the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division lifted its position in shares of RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock worth $37,000 after purchasing an additional 107 shares in the last quarter. State of Wyoming acquired a new position in RB Global during the second quarter worth $46,000. Finally, Nemes Rush Group LLC acquired a new position in RB Global during the fourth quarter worth $54,000. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Stock Performance

Shares of RBA stock opened at $112.72 on Friday. The company has a fifty day moving average price of $106.89 and a two-hundred day moving average price of $105.66. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The stock has a market cap of $20.96 billion, a P/E ratio of 52.43, a P/E/G ratio of 1.76 and a beta of 0.55. 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 (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company had revenue of $888.01 million for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business earned $0.89 EPS. RB Global's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities analysts predict that RB Global, Inc. will post 4.16 EPS for the current year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were paid a $0.31 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global's dividend payout ratio is currently 57.67%.

Wall Street Analyst Weigh In

RBA has been the topic of several recent research reports. Barclays began coverage on shares of RB Global in a research note on Thursday, May 28th. They issued an "overweight" rating and a $124.00 price target on the stock. Raymond James Financial upgraded RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 target price on the stock in a report on Tuesday. Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings reissued a "buy (b-)" rating on shares of RB Global in a research report on Tuesday, May 26th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $135.00 price target (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, RB Global currently has a consensus rating of "Buy" and a consensus price target of $126.12.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein acquired 425 shares of the business's stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.57% of the stock is owned by corporate insiders.

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.

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