Champlain Investment Partners LLC Sells 237,394 Shares of RB Global, Inc. $RBA

Champlain Investment Partners LLC trimmed its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 27.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 630,803 shares of the business services provider’s stock after selling 237,394 shares during the period. Champlain Investment Partners LLC owned 0.34% of RB Global worth $68,354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Spire Wealth Management lifted its holdings in RB Global by 1,090.6% in the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after buying an additional 349 shares during the period. State of Wyoming bought a new position in shares of RB Global in the 2nd quarter worth approximately $46,000. SouthState Corp lifted its stake in shares of RB Global by 75.6% in the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 195 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in RB Global by 53.1% in the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on RBA. Bank of America lowered their price objective on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Raymond James Financial lifted their price target on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective on the stock in a research note on Monday, November 24th. BMO Capital Markets raised their target price on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, RB Global presently has a consensus rating of “Buy” and a consensus price target of $129.29.

RB Global Stock Down 0.8%

RB Global stock opened at $100.14 on Tuesday. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 1.53 and a beta of 0.57. The stock has a fifty day simple moving average of $108.71 and a two-hundred day simple moving average of $106.99. RB Global, Inc. has a 12 month low of $87.87 and a 12 month high of $119.58. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, February 9th were paid a $0.31 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. RB Global’s payout ratio is currently 60.78%.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 20,742 shares of the 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 transaction, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is owned by insiders.

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.