Mackenzie Financial Corp Sells 142,274 Shares of RB Global, Inc. (NYSE:RBA)

Mackenzie Financial Corp reduced its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 14.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 840,220 shares of the business services provider's stock after selling 142,274 shares during the period. Mackenzie Financial Corp owned about 0.46% of RB Global worth $56,254,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RBA. Vanguard Group Inc. raised its holdings in shares of RB Global by 144.9% in the third quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider's stock valued at $1,415,456,000 after buying an additional 13,400,942 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of RB Global by 10.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider's stock worth $645,007,000 after buying an additional 977,171 shares during the last quarter. BlackRock Inc. lifted its holdings in RB Global by 286.9% in the second quarter. BlackRock Inc. now owns 6,479,856 shares of the business services provider's stock valued at $388,791,000 after buying an additional 4,804,923 shares during the period. Invesco Ltd. boosted its stake in RB Global by 19.2% in the first quarter. Invesco Ltd. now owns 4,652,139 shares of the business services provider's stock valued at $274,617,000 after acquiring an additional 747,804 shares during the last quarter. Finally, Luxor Capital Group LP grew its holdings in RB Global by 95.9% during the 4th quarter. Luxor Capital Group LP now owns 4,209,222 shares of the business services provider's stock worth $243,419,000 after acquiring an additional 2,060,511 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Activity

In other RB Global news, insider Darren Jeffrey Watt sold 1,100 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the transaction, the insider now owns 21,103 shares of the company's stock, valued at approximately $1,625,986.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Darren Jeffrey Watt sold 1,100 shares of the firm's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the transaction, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $76.32, for a total value of $871,269.12. Following the completion of the sale, the executive now directly owns 30,915 shares in the company, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,816 shares of company stock worth $1,133,055 over the last three months. Corporate insiders own 4.10% of the company's stock.

RB Global Stock Down 0.2 %

Shares of RBA traded down $0.14 on Wednesday, hitting $73.19. The company's stock had a trading volume of 492,424 shares, compared to its average volume of 833,188. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 86.26, a P/E/G ratio of 5.55 and a beta of 0.87. The firm's fifty day moving average price is $73.82 and its 200-day moving average price is $67.67. RB Global, Inc. has a fifty-two week low of $51.07 and a fifty-two week high of $77.99.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.14. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The business's quarterly revenue was up 134.5% compared to the same quarter last year. On average, equities research analysts expect that RB Global, Inc. will post 1.88 EPS for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Thursday, February 8th. RB Global's dividend payout ratio is 127.06%.

Analyst Ratings Changes

Several research firms have recently issued reports on RBA. StockNews.com upgraded RB Global from a "sell" rating to a "hold" rating in a research report on Friday, February 9th. Raymond James boosted their target price on RB Global from $78.00 to $90.00 and gave the stock an "outperform" rating in a research report on Monday, February 26th. Royal Bank of Canada increased their price target on shares of RB Global from $75.00 to $93.00 and gave the company an "outperform" rating in a research report on Monday, February 26th. Finally, Scotiabank boosted their price objective on shares of RB Global from $76.00 to $88.00 and gave the company a "sector outperform" rating in a report on Monday, February 26th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $82.80.

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.