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

QV Investors Inc. trimmed its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 313,567 shares of the business services provider’s stock after selling 24,466 shares during the period. RB Global accounts for 2.6% of QV Investors Inc.’s investment portfolio, making the stock its 14th biggest position. QV Investors Inc. owned about 0.17% of RB Global worth $32,326,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Central Pacific Bank Trust Division boosted its stake in RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after buying an additional 107 shares during the period. Spire Wealth Management increased its stake in RB Global by 1,090.6% in the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after acquiring an additional 349 shares during the last quarter. State of Wyoming bought a new position in RB Global in the 2nd quarter worth about $46,000. Geneos Wealth Management Inc. raised its holdings in shares of RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of RB Global by 53.1% in the 1st 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 currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

RB Global Trading Up 0.0%

Shares of RBA stock opened at $98.35 on Friday. The business has a 50-day moving average price of $104.09 and a two-hundred day moving average price of $104.24. RB Global, Inc. has a 12-month low of $87.87 and a 12-month high of $119.58. 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 market cap of $18.28 billion, a P/E ratio of 48.21, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.99 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 EPS. Equities analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were paid a dividend of $0.31 per share. 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 dividend payout ratio (DPR) is 60.78%.

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 20,742 shares of the business’s 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 completion of the sale, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Deborah Stein bought 400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were acquired at an average price of $98.74 per share, with a total value of $39,496.00. Following the acquisition, the director owned 1,400 shares of the company’s stock, valued at $138,236. This represents a 40.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 4.32% of the company’s stock.

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.