Lbp Am Sa Lowers Stock Position in RB Global, Inc. $RBA

Lbp Am Sa lessened its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 48.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,780 shares of the business services provider’s stock after selling 17,579 shares during the period. Lbp Am Sa’s holdings in RB Global were worth $2,035,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Cidel Asset Management Inc. raised its position in RB Global by 1.8% during the second quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after purchasing an additional 11,881 shares in the last quarter. JCIC Asset Management Inc. purchased a new position in shares of RB Global during the 3rd quarter valued at about $3,621,000. Montrusco Bolton Investments Inc. bought a new stake in RB Global in the 2nd quarter worth approximately $19,717,000. Bank of Nova Scotia Trust Co. boosted its stake in RB Global by 4.7% in the second quarter. Bank of Nova Scotia Trust Co. now owns 74,316 shares of the business services provider’s stock worth $7,892,000 after buying an additional 3,361 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of RB Global by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after acquiring an additional 705,423 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 20,742 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares of the company’s stock, valued at $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah Stein acquired 1,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $101,260. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RBA shares. National Bankshares reduced their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Royal Bank Of Canada upped their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Raymond James Financial lifted their target price on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Bank of America lowered their price objective on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $124.13.

RB Global Trading Up 0.4%

NYSE:RBA opened at $117.41 on Wednesday. RB Global, Inc. has a one year low of $86.68 and a one year high of $119.58. The company’s 50-day simple moving average is $104.92 and its 200 day simple moving average is $107.42. The firm has a market capitalization of $21.82 billion, a P/E ratio of 56.18, a PEG ratio of 2.19 and a beta of 0.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.10. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. RB Global’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

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