PCJ Investment Counsel Ltd. Reduces Stock Position in RB Global, Inc. (NYSE:RBA)

PCJ Investment Counsel Ltd. decreased its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 30.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,540 shares of the business services provider's stock after selling 64,120 shares during the period. RB Global accounts for 4.4% of PCJ Investment Counsel Ltd.'s portfolio, making the stock its 5th largest position. PCJ Investment Counsel Ltd. owned approximately 0.08% of RB Global worth $12,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Banco Santander S.A. lifted its holdings in shares of RB Global by 18.6% in the 4th quarter. Banco Santander S.A. now owns 9,109 shares of the business services provider's stock worth $822,000 after purchasing an additional 1,431 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in RB Global by 55.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 34,009 shares of the business services provider's stock valued at $3,068,000 after acquiring an additional 12,183 shares during the period. Callan Family Office LLC acquired a new stake in RB Global in the 4th quarter valued at approximately $265,000. Raymond James Financial Inc. acquired a new stake in RB Global in the 4th quarter valued at approximately $266,148,000. Finally, Aigen Investment Management LP acquired a new stake in RB Global in the 4th quarter valued at approximately $366,000. Institutional investors own 95.37% of the company's stock.

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RB Global Stock Down 0.8 %

NYSE RBA traded down $0.82 during trading on Wednesday, hitting $97.65. 1,000,897 shares of the company traded hands, compared to its average volume of 1,062,226. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The business has a fifty day simple moving average of $94.21 and a 200 day simple moving average of $90.24. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $18.04 billion, a P/E ratio of 48.58, a PEG ratio of 4.95 and a beta of 0.94.

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

RB Global Dividend Announcement

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

Wall Street Analyst Weigh In

RBA has been the topic of several analyst reports. Royal Bank of Canada raised their target price on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Robert W. Baird lifted their target price on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. StockNews.com cut RB Global from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. CIBC reduced their price objective on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. Finally, Raymond James lifted their price objective on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, RB Global presently has an average rating of "Moderate Buy" and a consensus target price of $107.64.

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.