RB Global, Inc. (NYSE:RBA) Stock Position Raised by Canoe Financial LP

Canoe Financial LP grew its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 22.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,418,666 shares of the business services provider's stock after purchasing an additional 255,484 shares during the period. RB Global makes up approximately 2.7% of Canoe Financial LP's holdings, making the stock its 12th largest holding. Canoe Financial LP owned approximately 0.77% of RB Global worth $113,900,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RBA. Hollencrest Capital Management purchased a new position in RB Global in the first quarter valued at about $33,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider's stock valued at $34,000 after buying an additional 165 shares during the period. UMB Bank n.a. lifted its position in RB Global by 196.0% during the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider's stock worth $47,000 after acquiring an additional 388 shares in the last quarter. Quarry LP purchased a new position in RB Global in the 2nd quarter worth approximately $53,000. Finally, Nisa Investment Advisors LLC grew its position in RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider's stock valued at $64,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

RBA stock traded up $1.15 during midday trading on Monday, reaching $86.09. The company had a trading volume of 565,603 shares, compared to its average volume of 1,029,974. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average price of $83.25 and a 200 day moving average price of $78.78. The firm has a market capitalization of $15.88 billion, a PE ratio of 48.37, a P/E/G ratio of 5.54 and a beta of 0.93. RB Global, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $87.45.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. RB Global's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. Analysts anticipate that RB Global, Inc. will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Wednesday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.27. RB Global's payout ratio is 65.17%.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief executive officer now owns 86,247 shares of the company's stock, valued at $7,261,134.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares of the company's stock, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,601 shares of company stock valued at $3,720,043. 4.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on RBA shares. Robert W. Baird boosted their target price on shares of RB Global from $80.00 to $86.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Bank of America boosted their price objective 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. Raymond James raised their target price on RB Global from $95.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Royal Bank of Canada boosted their price target on RB Global from $93.00 to $99.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets assumed 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. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $92.19.

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.