Mackenzie Financial Corp Sells 142,274 Shares of RB Global, Inc. (NYSE:RBA)

Mackenzie Financial Corp lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 14.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 840,220 shares of the business services provider’s stock after selling 142,274 shares during the period. Mackenzie Financial Corp owned 0.46% of RB Global worth $56,254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RBA. Vanguard Group Inc. raised its stake in shares of RB Global by 144.9% during the 3rd quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock worth $1,415,456,000 after purchasing an additional 13,400,942 shares in the last quarter. BlackRock Inc. raised its stake in shares of RB Global by 286.9% during the 2nd quarter. BlackRock Inc. now owns 6,479,856 shares of the business services provider’s stock worth $388,791,000 after purchasing an additional 4,804,923 shares in the last quarter. Luxor Capital Group LP raised its stake in shares of RB Global by 95.9% during the 4th quarter. Luxor Capital Group LP now owns 4,209,222 shares of the business services provider’s stock worth $243,419,000 after purchasing an additional 2,060,511 shares in the last quarter. State Street Corp raised its stake in shares of RB Global by 179.6% during the 2nd quarter. State Street Corp now owns 2,537,213 shares of the business services provider’s stock worth $152,233,000 after purchasing an additional 1,629,684 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of RB Global during the 4th quarter worth approximately $79,586,000. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of NYSE RBA opened at $73.33 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23. The stock’s fifty day moving average price is $73.82 and its two-hundred day moving average price is $67.67. RB Global, Inc. has a one year low of $51.07 and a one year high of $77.99. The firm has a market cap of $13.40 billion, a price-to-earnings ratio of 86.26, a P/E/G ratio of 5.55 and a beta of 0.87.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 134.5% on a year-over-year basis. On average, equities analysts forecast that RB Global, Inc. will post 1.88 EPS for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.47%. RB Global’s payout ratio is 127.06%.

Insider Activity

In other news, insider Darren Jeffrey Watt sold 2,300 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the sale, the insider now directly owns 21,103 shares in the company, valued at approximately $1,624,297.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Darren Jeffrey Watt sold 2,300 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the sale, the insider now directly owns 21,103 shares in the company, valued at approximately $1,624,297.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total value of $871,269.12. Following the sale, the executive now owns 30,915 shares of the company’s stock, valued at $2,359,432.80. The disclosure for this sale can be found here. In the last three months, insiders sold 14,816 shares of company stock worth $1,133,055. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of recent analyst reports. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Scotiabank boosted their target price on RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Monday, February 26th. Royal Bank of Canada boosted their target price on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Finally, Raymond James boosted their target price on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.80.

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.