Lbp Am Sa Sells 17,579 Shares of RB Global, Inc. $RBA

Lbp Am Sa lessened its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 48.3% during the third quarter, HoldingsChannel.com reports. The fund owned 18,780 shares of the business services provider’s stock after selling 17,579 shares during the quarter. Lbp Am Sa’s holdings in RB Global were worth $2,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cidel Asset Management Inc. boosted its holdings in RB Global by 1.8% in the second quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock worth $73,115,000 after purchasing an additional 11,881 shares during the last quarter. JCIC Asset Management Inc. bought a new position in shares of RB Global during the 3rd quarter valued at $3,621,000. Montrusco Bolton Investments Inc. purchased a new position in shares of RB Global in the 2nd quarter worth $19,717,000. Bank of Nova Scotia Trust Co. grew its holdings in shares of 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 acquiring an additional 3,361 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in 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 valued at $1,162,370,000 after acquiring an additional 705,423 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. National Bankshares cut their price target on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research note on Thursday, October 9th. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price on the stock in a report on Monday, November 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of RB Global in a research report on Thursday, January 22nd. Bank of America dropped their price target on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Royal Bank Of Canada lifted their price target on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.13.

RB Global Price Performance

RBA stock opened at $117.41 on Wednesday. The stock has a market cap of $21.82 billion, a PE ratio of 56.18, a P/E/G ratio of 2.19 and a beta of 0.57. RB Global, Inc. has a 12 month low of $86.68 and a 12 month high of $119.58. The company has a 50-day moving average price of $104.92 and a 200 day moving average price of $107.42. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46.

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 for the quarter, beating the consensus estimate of $0.83 by $0.10. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. Equities research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, February 9th. RB Global’s payout ratio is 59.33%.

Insider Transactions at RB Global

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