Northwest & Ethical Investments L.P. Has $19.42 Million Position in RB Global, Inc. $RBA

Key Points

• Northwest & Ethical Investments L.P. increased its stake in RB Global, Inc. by 2.6%, owning approximately 0.10% of the company, valued at $19.42 million.
• RB Global has announced a quarterly dividend increase from $0.29 to $0.31 per share, reflecting a positive change with an annualized yield of 1.1%.
• Insider transactions reveal significant sales, with CEO James Francis Kessler selling 45,658 shares, indicating a 29.80% decrease in personal ownership.

Northwest & Ethical Investments L.P. increased its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 2.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 193,376 shares of the business services provider's stock after purchasing an additional 4,886 shares during the period. Northwest & Ethical Investments L.P. owned about 0.10% of RB Global worth $19,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBA. Fiera Capital Corp boosted its stake in shares of RB Global by 17.3% during the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after buying an additional 557,407 shares during the period. Nuveen LLC acquired a new stake in shares of RB Global during the 1st quarter valued at $54,584,000. Invesco Ltd. boosted its stake in shares of RB Global by 26.9% during the 1st quarter. Invesco Ltd. now owns 2,436,296 shares of the business services provider's stock valued at $244,360,000 after buying an additional 516,865 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of RB Global during the 4th quarter valued at $39,080,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of RB Global during the 1st quarter valued at $35,607,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Buying and Selling at RB Global

In other news, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the completion of the transaction, the insider owned 24,874 shares in the company, valued at $2,736,140. This represents a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Francis Kessler sold 45,658 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the transaction, the chief executive officer owned 107,569 shares of the company's stock, valued at $11,832,590. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,558 shares of company stock valued at $6,314,145. Corporate insiders own 4.32% of the company's stock.

Analyst Ratings Changes

RBA has been the subject of a number of research reports. Raymond James Financial lifted their target price on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Robert W. Baird raised their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. National Bankshares raised their price target on shares of RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets raised their price target on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $119.79.

RB Global Price Performance

NYSE:RBA traded up $0.5420 on Thursday, reaching $115.6820. The stock had a trading volume of 480,019 shares, compared to its average volume of 1,086,662. RB Global, Inc. has a 1-year low of $78.08 and a 1-year high of $118.23. The stock has a fifty day moving average price of $108.81 and a 200-day moving average price of $103.02. The company has a market capitalization of $21.46 billion, a P/E ratio of 57.27, a price-to-earnings-growth ratio of 2.67 and a beta of 0.75. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $0.94 earnings per share. RB Global's quarterly revenue was up 8.2% on a year-over-year basis. Research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 28th. RB Global's payout ratio is presently 57.43%.

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.