PCJ Investment Counsel Ltd. Has $12.95 Million Stock Holdings in RB Global, Inc. (NYSE:RBA)

PCJ Investment Counsel Ltd. cut its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 30.9% during the fourth quarter, Holdings Channel reports. The fund owned 143,540 shares of the business services provider’s stock after selling 64,120 shares during the period. RB Global makes up about 4.4% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 5th biggest position. PCJ Investment Counsel Ltd.’s holdings in RB Global were worth $12,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new position in shares of RB Global in the fourth quarter worth about $27,000. Versant Capital Management Inc grew its stake in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of 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 in the last quarter. Proficio Capital Partners LLC bought a new position in RB Global in the 4th quarter worth approximately $36,000. Finally, Whipplewood Advisors LLC acquired a new position in RB Global during the 4th quarter worth $37,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RBA has been the subject of several research reports. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Robert W. Baird boosted their price objective 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. BMO Capital Markets increased their target price 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. Finally, CIBC dropped their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, RB Global has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Up 1.7 %

RBA stock opened at $101.36 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 stock has a market capitalization of $18.73 billion, a P/E ratio of 50.43, a P/E/G ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The business has a 50-day moving average of $93.66 and a 200-day moving average of $89.83.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period last year, the company earned $0.82 EPS. On average, sell-side analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

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

About RB Global

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.