Invesco Ltd. Has $173.15 Million Stake in RB Global, Inc. (NYSE:RBA)

Invesco Ltd. increased its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,919,431 shares of the business services provider's stock after buying an additional 106,627 shares during the quarter. Invesco Ltd. owned about 1.04% of RB Global worth $173,152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its holdings in shares of RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider's stock valued at $1,703,000 after buying an additional 7,737 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in shares of RB Global by 15.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider's stock worth $10,876,000 after purchasing an additional 16,397 shares during the last quarter. Vanguard Group Inc. raised its position in RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock worth $2,248,060,000 after buying an additional 358,752 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of RB Global during the fourth quarter worth about $27,000. Finally, Pictet Asset Management Holding SA boosted its holdings in RB Global by 16.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider's stock valued at $9,050,000 after purchasing an additional 13,836 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

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RB Global Stock Performance

NYSE:RBA traded up $0.90 during trading hours on Thursday, reaching $97.48. 834,785 shares of the stock were exchanged, compared to its average volume of 1,071,458. The stock has a market capitalization of $18.02 billion, a P/E ratio of 48.50, a P/E/G ratio of 4.95 and a beta of 0.90. The firm has a 50 day simple moving average of $98.07 and a 200-day simple moving average of $92.57. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90.

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

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, February 14th. RB Global's payout ratio is 57.71%.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the transaction, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. This represents a 12.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares of the company's stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock worth $2,338,161 in the last 90 days. 4.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. National Bankshares lowered their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets lifted 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. Robert W. Baird increased their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Royal Bank of Canada upped their price objective on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, StockNews.com lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $108.56.

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.