Addenda Capital Inc. Sells 8,405 Shares of RB Global, Inc. $RBA

Addenda Capital Inc. decreased its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,000 shares of the business services provider’s stock after selling 8,405 shares during the period. Addenda Capital Inc.’s holdings in RB Global were worth $7,921,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Central Pacific Bank Trust Division boosted its stake in RB Global by 41.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after purchasing an additional 107 shares in the last quarter. Spire Wealth Management lifted its stake in RB Global by 1,090.6% during the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 349 shares during the period. State of Wyoming bought a new position in RB Global during the 2nd quarter valued at about $46,000. Geneos Wealth Management Inc. lifted its stake in RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 204 shares during the period. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

NYSE RBA opened at $99.95 on Thursday. RB Global, Inc. has a 52 week low of $88.08 and a 52 week high of $119.58. The firm has a market capitalization of $18.58 billion, a P/E ratio of 48.99, a PEG ratio of 1.49 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $102.99 and a 200-day moving average price of $103.83.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.99 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. Equities research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, February 9th. RB Global’s dividend payout ratio is currently 60.78%.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. This represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Deborah Stein bought 400 shares of RB Global stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average cost of $98.74 per share, with a total value of $39,496.00. Following the completion of the acquisition, the director directly owned 1,400 shares in the company, valued at $138,236. This represents a 40.00% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RBA shares. Raymond James Financial upped their target price on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada upped their target price on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Finally, BMO Capital Markets upped their target price on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, RB Global currently has an average rating of “Buy” and a consensus target price of $129.29.

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.