RB Global, Inc. (NYSE:RBA) Stock Holdings Boosted by Bank of Montreal Can

Bank of Montreal Can lifted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,090,789 shares of the business services provider’s stock after buying an additional 68,423 shares during the period. Bank of Montreal Can owned approximately 0.59% of RB Global worth $98,325,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. FMR LLC raised its position in RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock worth $252,985,000 after acquiring an additional 1,623,429 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of RB Global by 2.3% during the fourth quarter. Wells Fargo & Company MN now owns 60,458 shares of the business services provider’s stock valued at $5,454,000 after buying an additional 1,386 shares in the last quarter. Geode Capital Management LLC raised its position in RB Global by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after buying an additional 264,778 shares during the period. National Bank of Canada FI lifted its stake in RB Global by 12.9% in the 4th quarter. National Bank of Canada FI now owns 912,689 shares of the business services provider’s stock worth $82,462,000 after acquiring an additional 104,517 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in RB Global by 9.6% during the 4th quarter. Franklin Resources Inc. now owns 13,777 shares of the business services provider’s stock worth $1,242,000 after acquiring an additional 1,209 shares during the period. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RBA shares. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. CIBC cut their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. BMO Capital Markets boosted their price target on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird increased their price objective on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada boosted their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, RB Global has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Trading Down 1.3 %

RB Global stock opened at $89.42 on Wednesday. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The company’s fifty day moving average price is $97.16 and its two-hundred day moving average price is $92.02. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 4.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the business posted $0.82 earnings per share. On average, analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is 57.71%.

Insider Buying and Selling

In related news, CRO James J. Jeter sold 600 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares in the company, valued at $1,939,756.21. This represents a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,897 shares of company stock valued at $2,338,161. Company insiders own 4.32% of the company’s stock.

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.