RB Global, Inc. (NYSE:RBA) Stake Boosted by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 811,008 shares of the business services provider's stock after acquiring an additional 84,140 shares during the period. RB Global makes up approximately 2.2% of Intact Investment Management Inc.'s investment portfolio, making the stock its 9th largest holding. Intact Investment Management Inc. owned 0.44% of RB Global worth $54,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mariner LLC raised its stake in shares of RB Global by 3.6% in the 3rd quarter. Mariner LLC now owns 27,567 shares of the business services provider's stock valued at $1,723,000 after purchasing an additional 946 shares during the period. Triasima Portfolio Management inc. raised its stake in shares of RB Global by 1,152.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider's stock valued at $12,947,000 after purchasing an additional 177,698 shares during the period. Vontobel Holding Ltd. raised its stake in shares of RB Global by 487.6% in the 4th quarter. Vontobel Holding Ltd. now owns 158,329 shares of the business services provider's stock valued at $10,591,000 after purchasing an additional 131,383 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of RB Global by 10.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider's stock valued at $645,007,000 after purchasing an additional 977,171 shares during the period. Finally, FMR LLC raised its stake in shares of RB Global by 49.2% in the 3rd quarter. FMR LLC now owns 42,443 shares of the business services provider's stock valued at $2,656,000 after purchasing an additional 13,987 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RBA. Royal Bank of Canada boosted their price target on RB Global from $75.00 to $93.00 and gave the stock an "outperform" rating in a research report on Monday, February 26th. StockNews.com upgraded RB Global from a "sell" rating to a "hold" rating in a report on Friday, February 9th. Raymond James boosted their price objective on RB Global from $78.00 to $90.00 and gave the stock an "outperform" rating in a report on Monday, February 26th. Finally, Scotiabank boosted their price objective on RB Global from $88.00 to $89.00 and gave the stock a "sector outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, RB Global has a consensus rating of "Moderate Buy" and an average price target of $83.00.

RB Global Price Performance

Shares of RBA stock traded down $0.15 during trading on Friday, hitting $73.18. The company had a trading volume of 456,710 shares, compared to its average volume of 537,494. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35. The firm has a market capitalization of $13.37 billion, a P/E ratio of 86.09, a price-to-earnings-growth ratio of 5.51 and a beta of 0.87. The stock's 50-day moving average price is $74.59 and its 200 day moving average price is $68.13. RB Global, Inc. has a one year low of $51.07 and a one year high of $77.99.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.14. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.04 billion. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The firm's revenue for the quarter was up 134.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. Equities analysts expect that RB Global, Inc. will post 1.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 2,300 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the sale, the insider now directly owns 21,103 shares in the company, valued at $1,624,297.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RB Global news, insider Darren Jeffrey Watt sold 2,300 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the sale, the insider now directly owns 21,103 shares in the company, valued at $1,624,297.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 11,416 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the sale, the executive now owns 30,915 shares of the company's stock, valued at $2,359,432.80. The disclosure for this sale can be found here. Insiders sold 14,816 shares of company stock worth $1,133,055 over the last three months. Insiders own 4.32% of the company's stock.

RB Global 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.