Fiera Capital Corp Boosts Holdings in RB Global, Inc. (NYSE:RBA)

Fiera Capital Corp increased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,143,924 shares of the business services provider’s stock after buying an additional 168,945 shares during the quarter. Fiera Capital Corp owned about 1.72% of RB Global worth $239,881,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RBA. Brevan Howard Capital Management LP acquired a new position in RB Global during the fourth quarter worth $2,009,000. Intech Investment Management LLC acquired a new position in RB Global in the 1st quarter valued at about $613,000. Charles Schwab Investment Management Inc. increased its stake in RB Global by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,030,810 shares of the business services provider’s stock worth $68,951,000 after purchasing an additional 24,684 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of RB Global by 25.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock worth $27,927,000 after purchasing an additional 74,809 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of RB Global by 3.9% in the fourth quarter. TD Asset Management Inc now owns 603,261 shares of the business services provider’s stock valued at $40,567,000 after purchasing an additional 22,636 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Up 1.1 %

RBA stock opened at $86.13 on Tuesday. The stock has a market cap of $15.75 billion, a P/E ratio of 51.89, a PEG ratio of 5.50 and a beta of 0.91. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. RB Global, Inc. has a twelve month low of $58.85 and a twelve month high of $87.45. The company’s 50 day moving average is $79.89 and its two-hundred day moving average is $76.64.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.42 earnings per share. RB Global’s quarterly revenue was down .9% compared to the same quarter last year. Research analysts expect that RB Global, Inc. will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be given a dividend of $0.29 per share. This is a positive change from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $1.16 annualized dividend and a yield of 1.35%. RB Global’s payout ratio is 69.88%.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of research reports. Bank of America increased their target price on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Robert W. Baird lifted their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. CIBC assumed coverage on RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target on the stock. Raymond James lifted their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada upped their target price on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.36.

Insider Buying and Selling at RB Global

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other RB Global news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,472 shares of company stock worth $1,669,216. 4.32% of the stock is owned by insiders.

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.