Scotia Capital Inc. Purchases 4,516 Shares of RB Global, Inc. (NYSE:RBA)

Scotia Capital Inc. grew its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,776 shares of the business services provider's stock after purchasing an additional 4,516 shares during the period. Scotia Capital Inc.'s holdings in RB Global were worth $5,663,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global during the 4th quarter valued at $27,000. Versant Capital Management Inc grew its stake in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock valued at $28,000 after purchasing an additional 176 shares in the last quarter. Jones Financial Companies Lllp grew its stake in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after purchasing an additional 129 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of RB Global during the 4th quarter worth about $36,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of RB Global in the 4th quarter valued at approximately $37,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

RBA stock traded up $0.84 on Thursday, reaching $97.42. 294,890 shares of the company were exchanged, compared to its average volume of 1,069,573. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The firm has a market capitalization of $18.00 billion, a PE ratio of 48.46, a PEG ratio of 4.95 and a beta of 0.90. The stock's fifty day moving average price is $98.07 and its 200 day moving average price is $92.57.

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

RB Global Dividend Announcement

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

Insider Activity at RB Global

In other news, CRO James J. Jeter sold 7,597 shares of the business'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 in the company, valued at $1,983,125.95. The trade was a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock valued at $2,338,161 in the last 90 days. 4.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on RBA. CIBC reduced their target price on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research note on Monday, February 3rd. Raymond James increased their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. BMO Capital Markets upped their target price on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, StockNews.com cut shares of RB Global from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, RB Global presently has a consensus rating of "Moderate Buy" and an average target price of $108.56.

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.