Montrusco Bolton Investments Inc. Has $17.26 Million Stock Holdings in RB Global, Inc. $RBA

Key Points

• Montrusco Bolton trimmed its stake in RB Global by 9.4% in Q4 and now holds 167,410 shares valued at about $17.26 million, while institutional investors own roughly 95.37% of the stock.
• RB Global beat Q4 expectations, reporting $1.11 EPS vs. $0.99 expected and $1.20 billion in revenue (up 5.4% year-over-year), with analysts projecting about 4.04 EPS for the current fiscal year.
• Brokerages have turned upbeat—seven analysts rate the stock a Buy and one a Hold, giving a consensus rating of "Moderate Buy" and a consensus target price of $125.13, with several firms raising targets into the $140s.

Montrusco Bolton Investments Inc. cut its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 167,410 shares of the business services provider's stock after selling 17,395 shares during the period. Montrusco Bolton Investments Inc. owned about 0.09% of RB Global worth $17,258,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. HB Wealth Management LLC raised its holdings in RB Global by 11.0% in the fourth quarter. HB Wealth Management LLC now owns 2,737 shares of the business services provider's stock worth $282,000 after purchasing an additional 271 shares during the period. TD Waterhouse Canada Inc. raised its holdings in RB Global by 1.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 120,495 shares of the business services provider's stock worth $12,135,000 after purchasing an additional 1,384 shares during the period. Diversified Management Inc. acquired a new stake in RB Global in the fourth quarter worth $411,000. LBP AM SA raised its holdings in RB Global by 42.9% in the fourth quarter. LBP AM SA now owns 26,836 shares of the business services provider's stock worth $2,761,000 after purchasing an additional 8,056 shares during the period. Finally, Lester Murray Antman dba SimplyRich raised its holdings in RB Global by 3.7% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 21,610 shares of the business services provider's stock worth $2,223,000 after purchasing an additional 771 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

RB Global Stock Up 0.6%

RB Global stock opened at $106.89 on Friday. The company has a market cap of $19.87 billion, a P/E ratio of 52.40, a price-to-earnings-growth ratio of 1.61 and a beta of 0.57. RB Global, Inc. has a 1-year low of $93.58 and a 1-year high of $119.58. The company has a fifty day simple moving average of $100.71 and a 200 day simple moving average of $103.41. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.12. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $0.95 earnings per share. Research analysts anticipate that RB Global, Inc. will post 4.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Deborah Stein purchased 400 shares of the business's stock in a transaction on Wednesday, March 18th. The stock was purchased at an average price of $98.74 per share, for a total transaction of $39,496.00. Following the completion of the purchase, the director directly owned 1,400 shares in the company, valued at $138,236. The trade was a 40.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by corporate 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.

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