Montrusco Bolton Investments Inc. Sells 11,710 Shares of RB Global, Inc. $RBA

Montrusco Bolton Investments Inc. cut its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,700 shares of the business services provider’s stock after selling 11,710 shares during the period. Montrusco Bolton Investments Inc.’s holdings in RB Global were worth $14,884,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Praxis Investment Management Inc. boosted its holdings in RB Global by 14.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,653 shares of the business services provider’s stock valued at $542,000 after purchasing an additional 703 shares during the period. QRG Capital Management Inc. boosted its stake in shares of RB Global by 16.6% in the first quarter. QRG Capital Management Inc. now owns 9,948 shares of the business services provider’s stock valued at $954,000 after buying an additional 1,419 shares during the period. HB Wealth Management LLC raised its holdings in RB Global by 16.8% in the 1st quarter. HB Wealth Management LLC now owns 3,198 shares of the business services provider’s stock valued at $307,000 after acquiring an additional 461 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in RB Global in the 1st quarter valued at $1,817,000. Finally, USS Investment Management Ltd bought a new stake in shares of RB Global during the 1st quarter valued at $259,000. 95.37% of the stock is owned by institutional investors.

RB Global Stock Performance

NYSE:RBA opened at $112.72 on Friday. RB Global, Inc. has a twelve month low of $93.58 and a twelve month high of $119.58. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $106.89 and its 200 day simple moving average is $105.66. The firm has a market capitalization of $20.96 billion, a PE ratio of 52.43, a price-to-earnings-growth ratio of 1.76 and a beta of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The firm had revenue of $888.01 million during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts anticipate that RB Global, Inc. will post 4.16 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, May 27th were paid a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global’s dividend payout ratio is presently 57.67%.

Insiders Place Their Bets

In related news, Director Deborah Stein bought 425 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RBA has been the topic of several analyst reports. Barclays started coverage on RB Global in a report on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Stephens reissued an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. Royal Bank Of Canada boosted their target price on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $126.12.

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.