RB Global, Inc. (NYSE:RBA) Stock Position Lessened by QV Investors Inc.

QV Investors Inc. trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,030 shares of the business services provider’s stock after selling 1,210 shares during the period. RB Global comprises approximately 3.0% of QV Investors Inc.’s holdings, making the stock its 8th biggest holding. QV Investors Inc. owned 0.23% of RB Global worth $33,682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of RB Global by 5.1% in the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after acquiring an additional 1,153,497 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in RB Global by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after purchasing an additional 787,042 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of RB Global by 1,879.0% during the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after purchasing an additional 594,941 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of RB Global by 3,387.9% during the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock worth $46,712,000 after buying an additional 594,199 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. raised its position in shares of RB Global by 83.2% in the first quarter. BW Gestao de Investimentos Ltda. now owns 701,538 shares of the business services provider’s stock valued at $53,436,000 after buying an additional 318,582 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity

In related news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the transaction, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the transaction, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,601 shares of company stock worth $3,720,043. 4.32% of the stock is currently owned by corporate insiders.

RB Global Stock Down 0.3 %

RBA opened at $80.80 on Wednesday. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $87.45. The firm has a 50 day moving average price of $82.55 and a 200 day moving average price of $78.28. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The company has a market cap of $14.77 billion, a PE ratio of 48.67, a price-to-earnings-growth ratio of 5.27 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. Sell-side analysts expect that RB Global, Inc. will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were given a $0.29 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.44%. RB Global’s dividend payout ratio is presently 69.88%.

Wall Street Analyst Weigh In

RBA has been the subject of several recent analyst reports. Royal Bank of Canada lifted 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. CIBC started coverage on RB Global in a research note on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price for the company. Robert W. Baird increased their target price on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets began coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price target for the company. Finally, Raymond James increased their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.19.

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.