RB Global, Inc. (NYSE:RBA) is PCJ Investment Counsel Ltd.'s 4th Largest Position

PCJ Investment Counsel Ltd. raised its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 32.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 207,660 shares of the business services provider's stock after acquiring an additional 50,320 shares during the period. RB Global comprises 5.3% of PCJ Investment Counsel Ltd.'s portfolio, making the stock its 4th biggest position. PCJ Investment Counsel Ltd. owned about 0.11% of RB Global worth $16,714,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Weil Company Inc. boosted its stake in RB Global by 1.2% during the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider's stock valued at $912,000 after purchasing an additional 132 shares during the last quarter. Advisor OS LLC grew its holdings in shares of RB Global by 1.9% during the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider's stock worth $638,000 after purchasing an additional 156 shares during the period. Blue Trust Inc. increased its holdings in shares of RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock valued at $113,000 after acquiring an additional 157 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider's stock worth $34,000 after acquiring an additional 165 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider's stock worth $64,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the company'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 sale, the chief executive officer now owns 86,247 shares of the company's stock, valued at approximately $7,261,134.93. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 3,000 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the sale, the executive now directly owns 20,267 shares of the company's stock, valued at $1,733,841.85. The trade was a 12.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,766 shares of company stock valued at $3,248,118. Company insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RBA. Bank of America raised their price target on shares of RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a report on Monday, August 26th. BMO Capital Markets increased their price objective on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Robert W. Baird boosted their target price on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Royal Bank of Canada increased their price target on RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, Raymond James increased their price target on shares of RB Global from $95.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, RB Global has an average rating of "Moderate Buy" and a consensus price target of $98.36.

RB Global Stock Performance

Shares of RBA stock traded down $0.21 during trading hours on Wednesday, hitting $93.39. 263,172 shares of the company were exchanged, compared to its average volume of 1,014,649. The stock has a market capitalization of $17.22 billion, a price-to-earnings ratio of 50.87, a P/E/G ratio of 4.55 and a beta of 0.92. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $84.91 and a 200 day simple moving average of $80.78. RB Global, Inc. has a 52-week low of $60.84 and a 52-week high of $94.85.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. RB Global's payout ratio is currently 63.04%.

RB Global 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.