RB Global, Inc. $RBA Stock: Montrusco Bolton Investments Inc. Trims Holdings

Key Points

• Montrusco Bolton Investments reduced its RB Global stake by 25.4% during the third quarter, selling 32,340 shares and retaining 95,208 shares valued at approximately $7.8 million. Institutional investors collectively own 95.37% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $126, although several firms recently lowered targets or downgraded the stock to “Hold.”
• RB Global shares traded around $88.20, while the company reported quarterly earnings above expectations and increased its quarterly dividend from $0.31 to $0.33 per share, producing a 1.5% annualized yield.

Montrusco Bolton Investments Inc. lessened its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 25.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,208 shares of the business services provider's stock after selling 32,340 shares during the quarter. Montrusco Bolton Investments Inc. owned 0.05% of RB Global worth $7,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Addison Advisors LLC acquired a new stake in shares of RB Global in the 2nd quarter valued at approximately $26,000. J.Safra Asset Management Corp purchased a new stake in shares of RB Global in the second quarter valued at approximately $32,000. MV Capital Management Inc. acquired a new position in RB Global during the fourth quarter worth $29,000. Integrated Wealth Concepts LLC acquired a new position in RB Global during the second quarter worth $35,000. Finally, Bayban acquired a new position in RB Global during the fourth quarter worth $34,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RBA. Royal Bank Of Canada reissued an "outperform" rating and issued a $152.00 target price on shares of RB Global in a report on Wednesday, September 23rd. National Bank Financial decreased their target price on shares of RB Global from $133.00 to $130.00 and set a "sector outperform" rating on the stock in a research report on Monday, September 14th. Zacks Research cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Finally, Barclays cut their price target on shares of RB Global from $121.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and an average target price of $126.00.

Insider Buying and Selling at RB Global

In other news, Director Chloe Harford purchased 1,200 shares of the company's stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the transaction, the director directly owned 1,200 shares in the company, valued at $100,488. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Deborah Stein purchased 500 shares of the company's stock in a transaction dated Wednesday, September 9th. The stock was purchased at an average price of $80.91 per share, with a total value of $40,455.00. Following the transaction, the director owned 2,325 shares of the company's stock, valued at approximately $188,115.75. This represents a 27.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by corporate insiders.

RB Global Price Performance

Shares of RBA stock traded up $0.41 during midday trading on Tuesday, reaching $88.20. 1,457,243 shares of the company traded hands, compared to its average volume of 1,447,923. The firm's 50 day simple moving average is $85.27 and its two-hundred day simple moving average is $98.97. The firm has a market cap of $15.99 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 1.47 and a beta of 0.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. RB Global, Inc. has a 1-year low of $78.05 and a 1-year high of $119.33.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. On average, equities research analysts expect that RB Global, Inc. will post 4.06 EPS for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.5%. This is a positive change from RB Global's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, August 25th. RB Global's dividend payout ratio is currently 56.65%.

RB Global Company Profile

RB Global, Inc NYSE: RBA is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.

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