Intact Investment Management Inc. Sells 104,260 Shares of RB Global, Inc. (NYSE:RBA)

Intact Investment Management Inc. lowered its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 14.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 634,848 shares of the business services provider's stock after selling 104,260 shares during the period. RB Global makes up approximately 1.7% of Intact Investment Management Inc.'s portfolio, making the stock its 12th biggest holding. Intact Investment Management Inc. owned approximately 0.34% of RB Global worth $51,099,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV boosted its position in shares of RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider's stock worth $34,000 after buying an additional 165 shares during the period. UMB Bank n.a. boosted its holdings in RB Global by 196.0% in 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 during the period. Quarry LP acquired a new stake in RB Global in the second quarter valued at approximately $53,000. Nisa Investment Advisors LLC raised its stake in shares of RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider's stock valued at $64,000 after purchasing an additional 210 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of RB Global by 30.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider's stock valued at $78,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RBA. Raymond James lifted their target price on RB Global from $95.00 to $98.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Bank of America lifted their price objective on RB Global from $79.00 to $92.50 and gave the stock a "neutral" rating in a report on Monday, August 26th. BMO Capital Markets assumed coverage on shares of RB Global in a research report on Thursday, September 5th. They set an "outperform" rating and a $105.00 price target for the company. Robert W. Baird lifted their price target on shares of RB Global from $80.00 to $86.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada increased their price objective on shares of RB Global from $93.00 to $99.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $92.19.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business's 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 transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares of the company's stock, valued at $1,733,841.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,601 shares of company stock valued at $3,720,043 in the last 90 days. 4.32% of the stock is currently owned by insiders.

RB Global Stock Up 0.4 %

Shares of RB Global stock traded up $0.30 during midday trading on Monday, hitting $85.40. The company's stock had a trading volume of 551,534 shares, compared to its average volume of 1,019,529. The firm has a market capitalization of $15.75 billion, a P/E ratio of 47.81, a PEG ratio of 5.52 and a beta of 0.92. RB Global, Inc. has a 1-year low of $58.85 and a 1-year high of $87.45. 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 simple moving average of $83.41 and a 200-day simple moving average of $79.22.

RB Global (NYSE:RBA - Get Free Report) 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, sell-side analysts expect that RB Global, Inc. will post 1.92 earnings per share for the current year.

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.