RB Global, Inc. (NYSE:RBA) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its holdings in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 638,838 shares of the business services provider's stock after buying an additional 3,990 shares during the period. RB Global makes up about 2.0% of Intact Investment Management Inc.'s holdings, making the stock its 10th biggest position. Intact Investment Management Inc. owned approximately 0.35% of RB Global worth $57,652,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in RB Global in the fourth quarter valued at about $266,148,000. Vontobel Holding Ltd. grew its stake in RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock valued at $762,378,000 after purchasing an additional 753,700 shares in the last quarter. National Bank of Canada FI grew 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 valued at $65,014,000 after purchasing an additional 610,843 shares in the last quarter. FMR LLC grew its stake in RB Global by 60.5% in the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider's stock valued at $95,057,000 after purchasing an additional 445,004 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in 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 in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Remove Ads

RB Global Stock Performance

NYSE:RBA traded down $0.72 during mid-day trading on Tuesday, hitting $97.26. 1,058,720 shares of the company's stock traded hands, compared to its average volume of 1,009,955. The firm has a 50 day moving average of $94.65 and a two-hundred day moving average of $90.53. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period last year, the company earned $0.82 EPS. On average, equities analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.19%. RB Global's dividend payout ratio (DPR) is 57.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. CIBC lowered their target price on RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. Robert W. Baird upped their price target on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Raymond James upped their price target on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.64.

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.