QV Investors Inc. Sells 24,466 Shares of RB Global, Inc. $RBA

QV Investors Inc. cut its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 313,567 shares of the business services provider’s stock after selling 24,466 shares during the quarter. RB Global comprises 2.6% of QV Investors Inc.’s holdings, making the stock its 14th largest holding. QV Investors Inc.’s holdings in RB Global were worth $32,326,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Central Pacific Bank Trust Division increased its stake in RB Global by 41.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 107 shares in the last quarter. Spire Wealth Management lifted its stake in shares of 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 in the last quarter. State of Wyoming purchased a new stake in shares of RB Global during the second quarter valued at approximately $46,000. Geneos Wealth Management Inc. grew its holdings 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 buying an additional 97 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 204 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction 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 trade represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Deborah Stein acquired 400 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $98.74 per share, with a total value of $39,496.00. Following the transaction, the director owned 1,400 shares in the company, valued at approximately $138,236. This trade represents a 40.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

RBA has been the topic of several analyst reports. Royal Bank Of Canada upped their price objective on RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. BMO Capital Markets lifted their target price on RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Finally, Raymond James Financial upped their price target on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $129.29.

RB Global Stock Up 0.0%

RBA opened at $98.35 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average price of $104.09 and a 200-day moving average price of $104.24. RB Global, Inc. has a twelve month low of $87.87 and a twelve month high of $119.58. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 1.49 and a beta of 0.57.

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

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. RB Global’s payout ratio is presently 60.78%.

RB Global Company 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.