Canoe Financial LP Sells 15,916 Shares of RB Global, Inc. (NYSE:RBA)

Canoe Financial LP trimmed its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,242,141 shares of the business services provider's stock after selling 15,916 shares during the period. RB Global accounts for 2.0% of Canoe Financial LP's holdings, making the stock its 22nd largest position. Canoe Financial LP owned 0.67% of RB Global worth $124,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in RB Global by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock worth $3,674,000 after acquiring an additional 113 shares during the period. CoreCap Advisors LLC increased its position in shares of RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after purchasing an additional 117 shares during the period. Jones Financial Companies Lllp increased its position in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after purchasing an additional 129 shares during the period. Claret Asset Management Corp raised its stake in RB Global by 1.6% in the fourth quarter. Claret Asset Management Corp now owns 10,233 shares of the business services provider's stock valued at $923,000 after purchasing an additional 163 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in RB Global by 4.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,762 shares of the business services provider's stock valued at $339,000 after purchasing an additional 176 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of RBA traded up $0.16 during mid-day trading on Friday, reaching $104.77. The company had a trading volume of 1,783,948 shares, compared to its average volume of 977,914. The company has a market capitalization of $19.40 billion, a price-to-earnings ratio of 51.61 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. The company's 50 day simple moving average is $103.51 and its 200 day simple moving average is $97.79. RB Global, Inc. has a 1-year low of $70.38 and a 1-year high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued 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 business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. Analysts expect that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Thursday, May 29th. RB Global's dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling

In other RB Global news, Director Adam Dewitt sold 800 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the completion of the transaction, the director now directly owns 5,865 shares in the company, valued at approximately $622,687.05. This trade represents a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew John Fesler sold 9,075 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total value of $950,334.00. Following the completion of the transaction, the insider now directly owns 5,532 shares of the company's stock, valued at $579,311.04. This represents a 62.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,075 shares of company stock worth $2,007,349 in the last 90 days. Insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

RBA has been the topic of several recent analyst reports. CIBC raised their target price 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. Robert W. Baird upped their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen raised shares of RB Global from a "hold" rating to a "buy" rating in a research note on Saturday. Raymond James Financial boosted their price objective on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, National Bankshares cut their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, RB Global presently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

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.