Addenda Capital Inc. Has $7.99 Million Stock Position in RB Global, Inc. (NYSE:RBA)

Addenda Capital Inc. lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 0.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 104,940 shares of the business services provider’s stock after selling 294 shares during the quarter. Addenda Capital Inc.’s holdings in RB Global were worth $7,993,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RBA. Cary Street Partners Investment Advisory LLC acquired a new position in shares of RB Global during the third quarter valued at about $26,000. Oakworth Capital Inc. increased its position in shares of RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after acquiring an additional 162 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of RB Global during the fourth quarter worth about $54,000. Brown Brothers Harriman & Co. bought a new stake in shares of RB Global during the fourth quarter worth about $72,000. Finally, Oliver Lagore Vanvalin Investment Group increased its position in shares of RB Global by 63.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 1,448 shares of the business services provider’s stock worth $97,000 after acquiring an additional 562 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity

In related news, CEO James Francis Kessler sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total transaction of $647,280.00. Following the sale, the chief executive officer now directly owns 78,104 shares in the company, valued at approximately $6,319,394.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO James J. Jeter sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the sale, the executive now directly owns 28,267 shares in the company, valued at approximately $2,132,179.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Francis Kessler sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total transaction of $647,280.00. Following the sale, the chief executive officer now owns 78,104 shares in the company, valued at $6,319,394.64. The disclosure for this sale can be found here. Insiders sold 43,867 shares of company stock valued at $3,370,272 in the last three months. Company insiders own 4.32% of the company’s stock.

RB Global Stock Performance

Shares of RB Global stock traded down $0.63 on Friday, reaching $76.38. 4,585,414 shares of the company traded hands, compared to its average volume of 1,186,718. RB Global, Inc. has a 52 week low of $55.54 and a 52 week high of $81.74. The company has a 50 day moving average of $75.29 and a 200 day moving average of $71.73. The firm has a market capitalization of $13.97 billion, a PE ratio of 46.01, a PEG ratio of 5.31 and a beta of 0.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. RB Global had a net margin of 8.08% and a return on equity of 6.87%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Equities analysts forecast that RB Global, Inc. will post 2.04 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Wednesday, May 29th. RB Global’s dividend payout ratio is currently 65.06%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RBA. CIBC began coverage on shares of RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 target price for the company. Scotiabank boosted their target price on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 24th. Finally, Bank of America boosted their target price on shares of RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

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.