Triasima Portfolio Management inc. Grows Position in RB Global, Inc. (NYSE:RBA)

Triasima Portfolio Management inc. grew its holdings in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 1,152.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 193,118 shares of the business services provider’s stock after purchasing an additional 177,698 shares during the quarter. RB Global makes up 1.1% of Triasima Portfolio Management inc.’s portfolio, making the stock its 28th biggest position. Triasima Portfolio Management inc. owned 0.11% of RB Global worth $12,947,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of RB Global during the 3rd quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in RB Global during the 3rd quarter worth approximately $26,000. Cornerstone Planning Group LLC purchased a new stake in RB Global during the 2nd quarter worth approximately $45,000. Belpointe Asset Management LLC grew its position in RB Global by 134.7% during the 1st quarter. Belpointe Asset Management LLC now owns 913 shares of the business services provider’s stock worth $51,000 after purchasing an additional 524 shares during the last quarter. Finally, WASHINGTON TRUST Co purchased a new stake in RB Global during the 3rd quarter worth approximately $56,000. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RBA. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Royal Bank of Canada increased their price target on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Raymond James lifted their price objective on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Finally, Scotiabank lifted their price objective on RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.80.

RB Global Price Performance

RBA traded down $0.26 during trading on Friday, reaching $73.06. The company’s stock had a trading volume of 565,422 shares, compared to its average volume of 617,514. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $73.50 and a two-hundred day simple moving average of $67.44. RB Global, Inc. has a 1 year low of $51.07 and a 1 year high of $77.99. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 85.95, a PEG ratio of 5.57 and a beta of 0.87.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The business’s revenue was up 134.5% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. As a group, analysts anticipate that RB Global, Inc. will post 1.88 EPS for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Thursday, February 8th. RB Global’s payout ratio is presently 127.06%.

Insider Activity

In other news, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the sale, the executive now owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the transaction, the executive now owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,816 shares of company stock valued at $1,133,055. 4.32% of the stock is currently owned by company insiders.

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.