Beutel Goodman & Co Ltd. Sells 657,819 Shares of RB Global, Inc. (NYSE:RBA)

Beutel Goodman & Co Ltd. lowered its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 9.9% during the fourth quarter, according to the company in its most recent disclosure 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 about 2.9% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 4th largest position. Beutel Goodman & Co Ltd.’s holdings in RB Global were worth $540,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in RBA. Central Pacific Bank Trust Division purchased a new position in RB Global during the 4th quarter worth $27,000. Versant Capital Management Inc raised its holdings 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 in the last quarter. Jones Financial Companies Lllp lifted its position in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 129 shares during the period. Whipplewood Advisors LLC purchased a new stake in RB Global in the 4th quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in RB Global during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Down 2.4 %

RBA stock opened at $97.90 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The company’s 50 day simple moving average is $96.38 and its 200-day simple moving average is $91.38. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The firm has a market capitalization of $18.09 billion, a PE ratio of 48.70, a P/E/G ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last announced its 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 net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company posted $0.82 EPS. Equities analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

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

Insider Activity at RB Global

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Raymond James lifted their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. 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. CIBC decreased their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada lifted their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, 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 report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.