PCJ Investment Counsel Ltd. Sells 64,120 Shares of RB Global, Inc. (NYSE:RBA)

PCJ Investment Counsel Ltd. reduced its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 30.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,540 shares of the business services provider’s stock after selling 64,120 shares during the period. RB Global accounts for 4.4% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 5th biggest holding. PCJ Investment Counsel Ltd. owned 0.08% of RB Global worth $12,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global during the 4th quarter worth about $27,000. Versant Capital Management Inc boosted its position in RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the period. Jones Financial Companies Lllp grew its stake in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after buying an additional 129 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in RB Global during the 4th quarter worth $37,000. Finally, Geneos Wealth Management Inc. bought a new stake in RB Global during the fourth quarter valued at about $40,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Price Performance

NYSE:RBA opened at $101.36 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company has a 50-day moving average of $93.66 and a 200-day moving average of $89.83. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The company has a market capitalization of $18.73 billion, a price-to-earnings ratio of 50.43, a PEG ratio of 4.95 and a beta of 0.94.

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

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.14%. RB Global’s dividend payout ratio is currently 57.71%.

Analysts Set New Price Targets

RBA has been the topic of a number of recent analyst reports. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. CIBC dropped their target price 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. Robert W. Baird increased their price target 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. Finally, BMO Capital Markets boosted their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus price target of $107.64.

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.