RB Global, Inc. $RBA Stake Lowered by Canoe Financial LP

Canoe Financial LP trimmed its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,217,774 shares of the business services provider’s stock after selling 17,117 shares during the quarter. RB Global comprises 1.9% of Canoe Financial LP’s portfolio, making the stock its 21st largest position. Canoe Financial LP’s holdings in RB Global were worth $131,875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in RBA. Cidel Asset Management Inc. boosted its holdings in shares of RB Global by 1.8% during the second quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after acquiring an additional 11,881 shares during the period. Montrusco Bolton Investments Inc. acquired a new stake in shares of RB Global in the 2nd quarter worth about $19,717,000. Voya Investment Management LLC lifted its position in RB Global by 12.8% in the 1st quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock valued at $3,389,000 after purchasing an additional 3,847 shares during the last quarter. Bank of Nova Scotia Trust Co. boosted its stake in RB Global by 4.7% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 74,316 shares of the business services provider’s stock valued at $7,892,000 after purchasing an additional 3,361 shares during the period. Finally, Kathmere Capital Management LLC bought a new position in RB Global in the 2nd quarter worth about $476,000. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RBA. National Bankshares cut their price target on RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Bank of America lowered their target price on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research report 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. Royal Bank Of Canada raised their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a research note on Monday, November 24th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $122.88.

RB Global Trading Up 0.1%

Shares of RB Global stock opened at $105.49 on Friday. The business has a fifty day simple moving average of $100.38 and a 200-day simple moving average of $106.77. 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 $19.61 billion, a price-to-earnings ratio of 50.47, a price-to-earnings-growth ratio of 2.30 and a beta of 0.56. 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 quarterly 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 net margin of 9.65% and a return on equity of 9.66%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business earned $0.71 earnings per share. RB Global’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, November 26th. RB Global’s dividend payout ratio (DPR) is presently 59.33%.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at $101,260. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.