RB Global, Inc. $RBA Holdings Reduced by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lessened its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 25.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 95,208 shares of the business services provider’s stock after selling 32,340 shares during the period. Montrusco Bolton Investments Inc.’s holdings in RB Global were worth $7,773,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Armstrong Henry H Associates Inc. boosted its stake in shares of RB Global by 30.1% during the third quarter. Armstrong Henry H Associates Inc. now owns 53,226 shares of the business services provider’s stock valued at $4,332,000 after acquiring an additional 12,317 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in RB Global by 9.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock worth $19,873,000 after purchasing an additional 17,489 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in RB Global by 127.3% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider’s stock valued at $3,068,000 after purchasing an additional 14,755 shares during the last quarter. Bank of America Corp DE raised its stake in RB Global by 7.8% in the 1st quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock valued at $139,216,000 after purchasing an additional 104,560 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in RB Global in the 2nd quarter valued at about $17,590,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays decreased their price target on shares of RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $152.00 price objective on shares of RB Global in a research note on Wednesday, September 23rd. Zacks Research downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

Insider Activity

In related news, Director Deborah Stein acquired 500 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average cost of $80.91 per share, for a total transaction of $40,455.00. Following the acquisition, the director directly owned 2,325 shares in the company, valued at approximately $188,115.75. The trade was a 27.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Chloe Harford bought 1,200 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average price of $83.74 per share, with a total value of $100,488.00. Following the completion of the acquisition, the director owned 1,200 shares of the company’s stock, valued at $100,488. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is owned by insiders.

RB Global Trading Up 0.5%

Shares of NYSE:RBA traded up $0.41 during midday trading on Tuesday, reaching $88.20. The company’s stock had a trading volume of 1,457,243 shares, compared to its average volume of 1,447,923. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 37.86, a price-to-earnings-growth ratio of 1.47 and a beta of 0.53. The business has a 50 day moving average price of $85.27 and a 200 day moving average price of $98.97. RB Global, Inc. has a 1 year low of $78.05 and a 1 year high of $119.33. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. Research analysts forecast that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th were issued a $0.33 dividend. This is a positive change from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.5%. RB Global’s dividend payout ratio (DPR) is presently 56.65%.

RB Global Profile

RB Global, Inc (NYSE: RBA) is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.