QV Investors Inc. Sells 75,784 Shares of RB Global, Inc. $RBA

QV Investors Inc. reduced its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 18.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 338,033 shares of the business services provider’s stock after selling 75,784 shares during the quarter. RB Global comprises about 3.2% of QV Investors Inc.’s investment portfolio, making the stock its 11th biggest position. QV Investors Inc. owned 0.18% of RB Global worth $36,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RBA. AQR Capital Management LLC raised its position in RB Global by 94.3% in the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 5,090 shares during the period. NewEdge Advisors LLC grew its stake in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after buying an additional 204 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of RB Global by 857.9% in the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after buying an additional 3,346 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of RB Global by 35.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after acquiring an additional 88,813 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of RB Global during the 1st quarter worth approximately $4,103,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RBA shares. Royal Bank Of Canada lifted their price objective on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. National Bankshares lowered their price target on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Bank of America dropped their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a report on Monday, November 24th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.13.

Insider Transactions at RB Global

In other RB Global news, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the sale, the chief executive officer owned 107,569 shares in the company, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deborah Stein acquired 1,000 shares of RB Global stock in a transaction dated Thursday, November 13th. The stock was purchased at an average price of $101.26 per share, with a total value of $101,260.00. Following the completion of the purchase, the director owned 1,000 shares of the company’s stock, valued at approximately $101,260. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 4.32% of the company’s stock.

RB Global Stock Up 0.9%

RBA stock opened at $116.53 on Friday. The stock has a market capitalization of $21.66 billion, a PE ratio of 55.76, a price-to-earnings-growth ratio of 2.16 and a beta of 0.57. RB Global, Inc. has a 52 week low of $86.68 and a 52 week high of $119.58. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $103.88 and a 200 day moving average of $107.19.

RB Global (NYSE:RBA) (TSE:RBA) last issued 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 net margin of 9.65% and a return on equity of 9.66%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $0.71 EPS. RB Global’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global’s payout ratio is currently 59.33%.

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.