RB Global, Inc. (NYSE:RBA) is Beutel Goodman & Co Ltd.’s 4th Largest Position

Beutel Goodman & Co Ltd. decreased its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,996,087 shares of the business services provider’s stock after selling 657,819 shares during the quarter. RB Global comprises 2.9% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 4th largest holding. Beutel Goodman & Co Ltd. owned approximately 3.25% of RB Global worth $540,906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after buying an additional 358,752 shares during the period. Vontobel Holding Ltd. increased its position in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after acquiring an additional 753,700 shares during the last quarter. State Street Corp raised its stake in shares of RB Global by 2.1% in the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after acquiring an additional 103,080 shares during the period. Geode Capital Management LLC lifted its holdings in shares of RB Global by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock worth $297,400,000 after acquiring an additional 108,188 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of RB Global by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock worth $272,293,000 after purchasing an additional 24,101 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on RBA shares. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC reduced their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Finally, Robert W. Baird lifted their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.64.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 600 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock worth $2,338,161 over the last 90 days. 4.32% of the stock is owned by insiders.

RB Global Stock Down 2.4 %

Shares of NYSE:RBA opened at $97.90 on Friday. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The firm’s 50 day moving average price is $96.38 and its 200 day moving average price is $91.38. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The stock has a market cap of $18.09 billion, a price-to-earnings ratio of 48.70, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, equities research analysts predict that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. RB Global’s payout ratio is currently 57.71%.

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.