RB Global, Inc. (NYSE:RBA) Shares Sold by Canoe Financial LP

Canoe Financial LP trimmed its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,258,057 shares of the business services provider's stock after selling 160,609 shares during the quarter. RB Global makes up about 1.6% of Canoe Financial LP's portfolio, making the stock its 23rd biggest position. Canoe Financial LP owned 0.68% of RB Global worth $113,471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI increased its stake in RB Global by 309.6% in the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider's stock worth $65,014,000 after purchasing an additional 610,843 shares during the period. FMR LLC lifted its holdings in RB Global by 60.5% during the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider's stock valued at $95,057,000 after buying an additional 445,004 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of RB Global by 57.1% in the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider's stock valued at $80,076,000 after purchasing an additional 357,761 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider's stock worth $196,109,000 after buying an additional 354,803 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of RB Global in the 3rd quarter worth $16,604,000. 95.37% of the stock is owned by institutional investors.

RB Global Stock Down 0.7 %

Shares of RBA traded down $0.60 during midday trading on Friday, hitting $89.24. 412,634 shares of the company's stock traded hands, compared to its average volume of 612,443. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $16.49 billion, a price-to-earnings ratio of 48.50, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96. RB Global, Inc. has a 1 year low of $60.84 and a 1 year high of $99.79. The firm's fifty day moving average is $93.22 and its 200-day moving average is $85.95.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, November 27th. RB Global's dividend payout ratio (DPR) is presently 63.04%.

Analyst Ratings Changes

RBA has been the subject of several recent research reports. Royal Bank of Canada lifted their price objective on RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. CIBC increased their price objective on shares of RB Global from $102.00 to $109.00 and gave the company an "outperformer" rating in a research note on Thursday, December 12th. Robert W. Baird boosted their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. BMO Capital Markets increased their target price on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Finally, StockNews.com lowered RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, RB Global has a consensus rating of "Moderate Buy" and an average target price of $100.36.

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.