Canoe Financial LP Purchases 133,706 Shares of RB Global, Inc. (NYSE:RBA)

Canoe Financial LP grew its position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,043,571 shares of the business services provider's stock after purchasing an additional 133,706 shares during the period. Canoe Financial LP owned 0.57% of RB Global worth $69,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mawer Investment Management Ltd. increased its stake in RB Global by 8.9% in the fourth quarter. Mawer Investment Management Ltd. now owns 56,924 shares of the business services provider's stock valued at $3,808,000 after purchasing an additional 4,670 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of RB Global by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,030,810 shares of the business services provider's stock worth $68,951,000 after acquiring an additional 24,684 shares during the period. Private Advisor Group LLC acquired a new stake in shares of RB Global in the fourth quarter worth approximately $260,000. Metis Global Partners LLC grew its holdings in RB Global by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 8,472 shares of the business services provider's stock valued at $567,000 after purchasing an additional 353 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in RB Global in the fourth quarter valued at approximately $317,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their price target on shares of RB Global from $75.00 to $93.00 and gave the company an "outperform" rating in a report on Monday, February 26th. Raymond James boosted their price target on RB Global from $78.00 to $90.00 and gave the company an "outperform" rating in a research report on Monday, February 26th. Scotiabank raised 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, April 24th. Finally, StockNews.com upgraded RB Global from a "sell" rating to a "hold" rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RB Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.00.

Insider Transactions at RB Global

In related news, insider Darren Jeffrey Watt sold 1,100 shares of the 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 of the company's stock, valued at $1,625,986.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Darren Jeffrey Watt sold 1,100 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total value of $84,755.00. Following the sale, the insider now directly owns 21,103 shares of the company's stock, valued at $1,625,986.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the transaction, the executive now directly owns 30,915 shares of the company's stock, valued at $2,359,432.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,816 shares of company stock valued at $1,133,055. 4.32% of the stock is currently owned by insiders.

RB Global Stock Up 4.9 %

RB Global stock traded up $3.55 during midday trading on Friday, hitting $76.48. 1,823,631 shares of the company were exchanged, compared to its average volume of 659,776. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23. RB Global, Inc. has a fifty-two week low of $51.07 and a fifty-two week high of $80.67. The company's fifty day moving average price is $74.45 and its 200-day moving average price is $68.67. The company has a market cap of $13.99 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 5.75 and a beta of 0.88.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.14. RB Global had a net margin of 8.08% and a return on equity of 6.91%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The business's revenue for the quarter was up 134.5% compared to the same quarter last year. On average, research analysts predict that RB Global, Inc. will post 1.9 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, May 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. RB Global's dividend payout ratio is presently 65.06%.

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.