RB Global, Inc. $RBA is PCJ Investment Counsel Ltd.’s 4th Largest Position

PCJ Investment Counsel Ltd. reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 31.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,130 shares of the business services provider’s stock after selling 50,170 shares during the period. RB Global comprises approximately 4.0% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 4th largest position. PCJ Investment Counsel Ltd.’s holdings in RB Global were worth $11,698,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBA. Aviva PLC lifted its holdings in shares of RB Global by 8.2% in the second quarter. Aviva PLC now owns 131,717 shares of the business services provider’s stock valued at $13,991,000 after purchasing an additional 10,014 shares in the last quarter. Metis Global Partners LLC raised its position in RB Global by 7.8% during the second quarter. Metis Global Partners LLC now owns 6,223 shares of the business services provider’s stock valued at $661,000 after buying an additional 450 shares during the period. Savant Capital LLC purchased a new stake in RB Global in the 2nd quarter worth about $310,000. Twin Capital Management Inc. acquired a new stake in RB Global during the 2nd quarter worth about $1,273,000. Finally, SouthState Corp grew its stake in RB Global by 75.6% during the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 195 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on RBA shares. National Bankshares lowered their price objective on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 9th. Wall Street Zen raised RB Global from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. BMO Capital Markets boosted their target price on shares of RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. CIBC increased their price objective on RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada lifted their target price on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.71.

Insiders Place Their Bets

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.32% of the stock is owned by company insiders.

RB Global Trading Up 4.4%

Shares of RBA opened at $100.43 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. The company has a market cap of $18.65 billion, a price-to-earnings ratio of 49.72, a PEG ratio of 2.48 and a beta of 0.65. The stock has a fifty day moving average price of $107.67 and a two-hundred day moving average price of $107.54. RB Global, Inc. has a 52-week low of $85.55 and a 52-week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th. RB Global’s payout ratio is 59.33%.

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.