RB Global, Inc. (NYSE:RBA) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 57.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,788 shares of the business services provider's stock after selling 370,050 shares during the period. Intact Investment Management Inc. owned approximately 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 added to or reduced their stakes in the company. Natixis Advisors LLC increased its holdings in shares of RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock valued at $1,703,000 after buying an additional 7,737 shares in the last quarter. Mawer Investment Management Ltd. raised its stake in RB Global by 15.7% during the 4th quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock valued at $10,876,000 after purchasing an additional 16,397 shares during the period. Vanguard Group Inc. increased its stake in shares of RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock worth $2,248,060,000 after acquiring an additional 358,752 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of RB Global by 9.2% in the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider's stock worth $9,376,000 after acquiring an additional 8,723 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of RB Global by 16.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider's stock worth $9,050,000 after acquiring an additional 13,836 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

RBA stock opened at $104.77 on Friday. The company has a 50 day moving average price of $103.51 and a 200 day moving average price of $97.79. The stock has a market capitalization of $19.40 billion, a PE ratio of 51.61, a price-to-earnings-growth ratio of 3.69 and a beta of 0.78. RB Global, Inc. has a fifty-two week low of $70.38 and a fifty-two week high of $109.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Announces Dividend

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

Wall Street Analyst Weigh In

RBA has been the topic of several analyst reports. Robert W. Baird increased their target price on shares of 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 raised RB Global from a "hold" rating to a "buy" rating in a research report on Saturday. CIBC lifted their price objective on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. Raymond James Financial lifted their target price on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, National Bankshares cut their target price on shares of 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.50.

Insider Activity

In other RB Global news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the sale, the director now directly owns 5,865 shares of the company's stock, valued at $622,687.05. The trade was a 12.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO James J. Jeter sold 3,500 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $104.38, for a total transaction of $365,330.00. Following the completion of the sale, the executive now directly owns 16,167 shares in the company, valued at approximately $1,687,511.46. The trade was a 17.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,075 shares of company stock valued at $2,007,349 in the last quarter. Company insiders own 4.32% of the company's stock.

About RB Global

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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