Intact Investment Management Inc. lessened its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 57.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 268,788 shares of the business services provider's stock after selling 370,050 shares during the quarter. Intact Investment Management Inc. owned 0.15% of RB Global worth $26,981,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of RB Global by 1.5% during 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 buying an additional 358,752 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 worth $357,434,000 after buying an additional 264,778 shares during the period. Janus Henderson Group PLC lifted 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 valued at $307,033,000 after acquiring an additional 19,895 shares during the period. Boston Partners lifted 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 valued at $298,500,000 after acquiring an additional 214,181 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of RB Global in the fourth quarter worth $266,148,000. 95.37% of the stock is owned by hedge funds and other institutional investors.
RB Global Trading Up 1.4%
NYSE RBA traded up $1.45 on Tuesday, reaching $105.74. 1,145,562 shares of the company were exchanged, compared to its average volume of 976,323. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $109.25. The stock has a market capitalization of $19.58 billion, a P/E ratio of 52.09, a price-to-earnings-growth ratio of 3.71 and a beta of 0.78. The business's fifty day moving average price is $103.80 and its 200 day moving average price is $97.89. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50.
RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. RB Global's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS. Analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.
RB Global Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.10%. RB Global's dividend payout ratio (DPR) is currently 57.14%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on RBA. Robert W. Baird increased their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research report on Saturday. National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. National Bankshares decreased their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Raymond James Financial upped their price objective on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $114.50.
Check Out Our Latest Report on RB Global
Insiders Place Their Bets
In related news, CRO James J. Jeter sold 3,500 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $104.38, for a total transaction of $365,330.00. Following the transaction, the executive now owns 16,167 shares of the company's stock, valued at approximately $1,687,511.46. This represents a 17.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Adam Dewitt sold 800 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $84,936.00. Following the sale, the director now owns 5,865 shares in the company, valued at $622,687.05. This trade represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,075 shares of company stock valued at $2,007,349 over the last 90 days. 0.28% of the stock is owned by company insiders.
About RB Global
(
Free Report)
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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