RB Global, Inc. (NYSE:RBA) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. increased its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 811,008 shares of the business services provider’s stock after purchasing an additional 84,140 shares during the quarter. RB Global accounts for approximately 2.2% of Intact Investment Management Inc.’s holdings, making the stock its 9th biggest position. Intact Investment Management Inc. owned approximately 0.44% of RB Global worth $54,273,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of RB Global during the third quarter worth $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of RB Global during the third quarter worth $26,000. Oakworth Capital Inc. lifted its holdings in shares of RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after purchasing an additional 162 shares during the period. GAMMA Investing LLC acquired a new stake in shares of RB Global during the fourth quarter worth $54,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of RB Global by 63.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 1,448 shares of the business services provider’s stock worth $97,000 after purchasing an additional 562 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of RBA stock traded down $0.15 during mid-day trading on Friday, reaching $73.18. The stock had a trading volume of 456,710 shares, compared to its average volume of 537,494. RB Global, Inc. has a 12-month low of $51.07 and a 12-month high of $77.99. The company has a market cap of $13.37 billion, a P/E ratio of 86.09, a price-to-earnings-growth ratio of 5.51 and a beta of 0.87. The business has a 50-day simple moving average of $74.59 and a 200 day simple moving average of $68.13. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 134.5% on a year-over-year basis. On average, sell-side analysts anticipate that RB Global, Inc. will post 1.9 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Raymond James raised their target price on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, February 26th. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Scotiabank raised their target price on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their target price on RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Insider Activity

In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the sale, the executive now owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. Insiders sold a total of 14,816 shares of company stock worth $1,133,055 over the last 90 days. 4.32% of the stock is currently owned by corporate insiders.

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.