QV Investors Inc. Sells 14,720 Shares of RB Global, Inc. $RBA

QV Investors Inc. cut its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 292,372 shares of the business services provider’s stock after selling 14,720 shares during the quarter. RB Global comprises about 2.6% of QV Investors Inc.’s holdings, making the stock its 16th largest position. QV Investors Inc.’s holdings in RB Global were worth $34,026,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in RB Global during the 2nd quarter worth about $1,816,059,000. Jupiter Topco LLC purchased a new position in RB Global during the 2nd quarter valued at about $514,871,000. T. Rowe Price Investment Management Inc. increased its position in shares of RB Global by 6,120,490.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock valued at $251,851,000 after buying an additional 2,448,196 shares during the period. Norges Bank bought a new stake in shares of RB Global during the fourth quarter valued at about $231,813,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of RB Global in the first quarter worth about $210,091,000. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on RBA. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a report on Tuesday, June 30th. Finally, National Bank Financial increased their price objective on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

Insider Buying and Selling

In other RB Global news, Director Chloe Harford bought 1,200 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the transaction, the director directly owned 1,200 shares in the company, valued at $100,488. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

RB Global Price Performance

Shares of NYSE:RBA opened at $85.94 on Monday. The company’s fifty day moving average price is $103.30 and its 200-day moving average price is $103.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The firm has a market capitalization of $15.91 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 1.47 and a beta of 0.56. RB Global, Inc. has a one year low of $82.03 and a one year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.21 billion. On average, equities research analysts anticipate that RB Global, Inc. will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This is an increase from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 1.5%. RB Global’s dividend payout ratio (DPR) is 56.65%.

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.