RB Global, Inc. (NYSE:RBA) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 840,220 shares of the business services provider’s stock after selling 142,274 shares during the quarter. Mackenzie Financial Corp’s holdings in RB Global were worth $56,254,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in RB Global by 144.9% during the third quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock worth $1,415,456,000 after buying an additional 13,400,942 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in RB Global by 10.5% during the third 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 in the last quarter. BlackRock Inc. boosted its holdings in RB Global by 286.9% during the second quarter. BlackRock Inc. now owns 6,479,856 shares of the business services provider’s stock worth $388,791,000 after buying an additional 4,804,923 shares in the last quarter. Invesco Ltd. boosted its holdings in RB Global by 19.2% during the first quarter. Invesco Ltd. now owns 4,652,139 shares of the business services provider’s stock worth $274,617,000 after buying an additional 747,804 shares in the last quarter. Finally, Luxor Capital Group LP boosted its holdings in RB Global by 95.9% during the fourth quarter. Luxor Capital Group LP now owns 4,209,222 shares of the business services provider’s stock worth $243,419,000 after buying an additional 2,060,511 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the transaction, the insider now owns 21,103 shares of the company’s stock, valued at $1,625,986.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the transaction, the insider now owns 21,103 shares of the company’s stock, valued at $1,625,986.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the transaction, the executive now directly 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. Over the last quarter, insiders sold 14,816 shares of company stock valued at $1,133,055. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Raymond James upped their price target on shares of 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 shares of RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Scotiabank upped their price target on shares of RB Global from $76.00 to $88.00 and gave the company a “sector outperform” rating in a report on Monday, February 26th. Finally, Royal Bank of Canada upped their price target on shares of 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. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.80.

RB Global Stock Performance

Shares of RBA opened at $73.33 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35. The company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 86.26, a PEG ratio of 5.55 and a beta of 0.87. The company’s 50 day simple moving average is $73.82 and its 200 day simple moving average is $67.67. RB Global, Inc. has a 1 year low of $51.07 and a 1 year high of $77.99.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.14. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The company’s quarterly revenue was up 134.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, sell-side analysts predict that RB Global, Inc. will post 1.88 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, February 8th. RB Global’s payout ratio is 127.06%.

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.