RB Global, Inc. (NYSE:RBA) Shares Acquired by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. grew its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 32.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,660 shares of the business services provider’s stock after buying an additional 50,320 shares during the period. RB Global accounts for about 5.3% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 4th biggest holding. PCJ Investment Counsel Ltd. owned 0.11% of RB Global worth $16,714,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Commerce Bank raised its position in shares of RB Global by 10.6% in the third quarter. Commerce Bank now owns 14,906 shares of the business services provider’s stock valued at $1,200,000 after buying an additional 1,426 shares during the last quarter. Mawer Investment Management Ltd. raised its position in shares of RB Global by 3.6% in the third quarter. Mawer Investment Management Ltd. now owns 104,167 shares of the business services provider’s stock valued at $8,384,000 after buying an additional 3,586 shares during the last quarter. Swiss National Bank raised its position in shares of RB Global by 1.2% in the third quarter. Swiss National Bank now owns 555,543 shares of the business services provider’s stock valued at $44,783,000 after buying an additional 6,400 shares during the last quarter. Accredited Investors Inc. acquired a new stake in shares of RB Global in the third quarter valued at about $226,000. Finally, Natixis Advisors LLC acquired a new stake in shares of RB Global in the third quarter valued at about $897,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Robert W. Baird upped their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. BMO Capital Markets upped their price objective on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Raymond James upped their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada upped their price objective on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and a consensus target price of $98.36.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,166,263.23. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 3,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the sale, the executive now directly owns 20,267 shares in the company, valued at $1,733,841.85. This represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,766 shares of company stock valued at $3,248,118. 4.10% of the stock is currently owned by corporate insiders.

RB Global Trading Down 0.6 %

Shares of RBA stock opened at $93.60 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The firm has a market cap of $17.26 billion, a PE ratio of 50.87, a price-to-earnings-growth ratio of 4.55 and a beta of 0.92. The company has a 50-day moving average of $84.91 and a two-hundred day moving average of $80.78. RB Global, Inc. has a 1-year low of $60.84 and a 1-year high of $94.85.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. RB Global’s dividend payout ratio is presently 63.04%.

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.