Mackenzie Financial Corp Sells 19,879 Shares of RB Global, Inc. (NYSE:RBA)

Posted by Defense World Staff on Jul 11th, 2023

Mackenzie Financial Corp cut its holdings in RB Global, Inc. (NYSE:RBA – Free Report) (TSE:RBA) by 3.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 553,838 shares of the business services provider’s stock after selling 19,879 shares during the period. Mackenzie Financial Corp’s holdings in RB Global were worth $31,159,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RBA. Massmutual Trust Co. FSB ADV boosted its stake in shares of RB Global by 380.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 812 shares of the business services provider’s stock worth $46,000 after purchasing an additional 643 shares during the period. Hollencrest Capital Management purchased a new position in shares of RB Global during the 4th quarter worth about $48,000. Ronald Blue Trust Inc. boosted its stake in shares of RB Global by 176.7% during the 4th quarter. Ronald Blue Trust Inc. now owns 855 shares of the business services provider’s stock worth $53,000 after purchasing an additional 546 shares during the period. International Assets Investment Management LLC purchased a new position in shares of RB Global during the 1st quarter worth about $57,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of RB Global by 41.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,114 shares of the business services provider’s stock worth $72,000 after purchasing an additional 325 shares during the period. 89.34% of the stock is currently owned by institutional investors.

RB Global Price Performance

Shares of RBA opened at $59.81 on Tuesday. The company has a 50 day moving average price of $56.24 and a 200-day moving average price of $57.73. RB Global, Inc. has a fifty-two week low of $48.72 and a fifty-two week high of $72.73. The stock has a market capitalization of $10.88 billion, a PE ratio of 61.03, a PEG ratio of 5.51 and a beta of 0.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.30.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last announced its quarterly earnings results on Wednesday, May 10th. The business services provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.74). RB Global had a return on equity of 5.25% and a net margin of 6.13%. The business had revenue of $512.40 million during the quarter, compared to analysts’ expectations of $427.18 million. Equities analysts predict that RB Global, Inc. will post 1.53 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th were given a $0.27 dividend. The ex-dividend date was Friday, May 26th. This represents a $1.08 annualized dividend and a dividend yield of 1.81%. RB Global’s payout ratio is presently 110.20%.

Analysts Set New Price Targets

A number of research firms recently commented on RBA. OTR Global raised shares of RB Global to a “positive” rating in a research note on Thursday, May 4th. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Robert W. Baird lowered their price objective on shares of RB Global from $66.00 to $64.00 in a research report on Monday, March 20th. National Bankshares raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Thursday, May 18th. Finally, National Bank Financial boosted their price objective on shares of RB Global from $61.00 to $70.00 in a research report on Monday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus price target of $62.86.

Insider Transactions at RB Global

In other news, Director Adam Dewitt acquired 2,000 shares of RB Global stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average price of $52.40 per share, for a total transaction of $104,800.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $104,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert George Elton acquired 1,471 shares of RB Global stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average price of $54.15 per share, for a total transaction of $79,654.65. Following the purchase, the director now directly owns 1,471 shares in the company, valued at approximately $79,654.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam Dewitt acquired 2,000 shares of RB Global stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average price of $52.40 per share, with a total value of $104,800.00. Following the purchase, the director now owns 2,000 shares in the company, valued at $104,800. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 21,993 shares of company stock valued at $1,185,754. Company insiders own 4.32% of the company’s stock.

About RB Global

(Free Report)

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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.