Intact Investment Management Inc. Decreases Position in RB Global, Inc. $RBA

Intact Investment Management Inc. lowered its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 43.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 153,092 shares of the business services provider’s stock after selling 116,730 shares during the quarter. Intact Investment Management Inc. owned about 0.08% of RB Global worth $16,584,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in RB Global by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 25,205,500 shares of the business services provider’s stock worth $2,676,926,000 after acquiring an additional 289,094 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of RB Global by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock valued at $1,162,370,000 after purchasing an additional 705,423 shares during the period. Vontobel Holding Ltd. lifted its position in shares of RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after purchasing an additional 672,450 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of RB Global by 7.5% in the second quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock valued at $482,383,000 after purchasing an additional 317,781 shares during the period. Finally, Fiera Capital Corp boosted its stake in shares of RB Global by 2.7% in the second quarter. Fiera Capital Corp now owns 3,876,595 shares of the business services provider’s stock valued at $411,586,000 after purchasing an additional 102,681 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Stock Down 0.8%

Shares of RB Global stock opened at $115.57 on Monday. The business has a 50-day moving average price of $104.16 and a 200 day moving average price of $107.29. RB Global, Inc. has a fifty-two week low of $86.68 and a fifty-two week high of $119.58. The firm has a market cap of $21.48 billion, a P/E ratio of 55.30, a P/E/G ratio of 2.17 and a beta of 0.57. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.83 by $0.10. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm earned $0.71 EPS. The business’s revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, February 9th. RB Global’s payout ratio is currently 59.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RBA shares. Royal Bank Of Canada lifted their price target on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of RB Global in a report on Thursday. Bank of America dropped their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, National Bankshares cut their target price on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average price target of $124.13.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein bought 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $101.26 per share, with a total value of $101,260.00. Following the completion of the acquisition, the director owned 1,000 shares of the company’s stock, valued at approximately $101,260. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.28% of the stock is owned by insiders.

RB Global Company 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.