Desjardins Global Asset Management Inc. Sells 14,562 Shares of RB Global, Inc. (NYSE:RBA)

Desjardins Global Asset Management Inc. reduced its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 17.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 67,035 shares of the business services provider’s stock after selling 14,562 shares during the period. Desjardins Global Asset Management Inc.’s holdings in RB Global were worth $4,484,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mariner LLC boosted its stake in shares of RB Global by 3.6% in the 3rd quarter. Mariner LLC now owns 27,567 shares of the business services provider’s stock worth $1,723,000 after buying an additional 946 shares during the last quarter. Triasima Portfolio Management inc. boosted its stake in shares of RB Global by 1,152.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock worth $12,947,000 after buying an additional 177,698 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of RB Global by 10.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock worth $645,007,000 after buying an additional 977,171 shares during the last quarter. FMR LLC boosted its stake in shares of RB Global by 49.2% in the 3rd quarter. FMR LLC now owns 42,443 shares of the business services provider’s stock worth $2,656,000 after buying an additional 13,987 shares during the last quarter. Finally, Pathstone Family Office LLC purchased a new position in shares of RB Global in the 3rd quarter worth approximately $226,000. 95.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RBA shares. Scotiabank upped their price objective on RB Global from $76.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Monday, February 26th. Raymond James upped their price objective on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Royal Bank of Canada upped their price objective on RB Global from $75.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, StockNews.com upgraded RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.80.

RB Global Stock Performance

Shares of NYSE:RBA traded up $0.30 during trading on Tuesday, hitting $73.38. 402,033 shares of the company were exchanged, compared to its average volume of 835,141. The company has a market cap of $13.41 billion, a PE ratio of 85.98, a P/E/G ratio of 5.55 and a beta of 0.87. The stock has a 50 day moving average of $73.68 and a 200 day moving average of $67.59. RB Global, Inc. has a 52-week low of $51.07 and a 52-week high of $77.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue was up 134.5% compared to the same quarter last year. As a group, equities research analysts predict that RB Global, Inc. will post 1.88 EPS for the current year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.27 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.47%. RB Global’s dividend payout ratio (DPR) is presently 127.06%.

Insider Buying and Selling

In other RB Global news, insider Darren Jeffrey Watt sold 1,100 shares of the firm’s 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 sale, the insider now owns 21,103 shares in the company, valued at $1,625,986.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other RB Global news, insider Darren Jeffrey Watt sold 1,100 shares of the firm’s 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 sale, the insider now owns 21,103 shares in the company, valued at $1,625,986.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were 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 in the company, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,816 shares of company stock worth $1,133,055. Corporate insiders own 4.10% of the company’s stock.

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.