PCJ Investment Counsel Ltd. Purchases 50,320 Shares of RB Global, Inc. (NYSE:RBA)

PCJ Investment Counsel Ltd. boosted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 32.0% during the 3rd quarter, Holdings Channel reports. The fund owned 207,660 shares of the business services provider’s stock after acquiring an additional 50,320 shares during the quarter. RB Global makes up 5.3% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 4th biggest holding. PCJ Investment Counsel Ltd.’s holdings in RB Global were worth $16,714,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RBA. EdgePoint Investment Group Inc. raised its holdings in RB Global by 1.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock worth $652,590,000 after purchasing an additional 114,225 shares in the last quarter. Cooke & Bieler LP raised its holdings in RB Global by 3.4% during the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock worth $252,865,000 after purchasing an additional 109,056 shares in the last quarter. Fiera Capital Corp raised its holdings in RB Global by 5.7% during the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after purchasing an additional 168,945 shares in the last quarter. Boston Partners raised its holdings in RB Global by 4.1% during the first quarter. Boston Partners now owns 3,029,758 shares of the business services provider’s stock worth $230,543,000 after purchasing an additional 120,469 shares in the last quarter. Finally, Canoe Financial LP raised its holdings in RB Global by 22.0% during the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock worth $113,900,000 after purchasing an additional 255,484 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Bank of America raised their price objective on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada raised their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets raised their target price on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Raymond James lifted their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.36.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,166,263.23. The trade was a 17.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO James J. Jeter sold 3,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the sale, the executive now owns 20,267 shares of the company’s stock, valued at $1,733,841.85. The trade was a 12.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,766 shares of company stock worth $3,248,118. Corporate insiders own 4.10% of the company’s stock.

RB Global Price Performance

Shares of NYSE RBA opened at $93.60 on Wednesday. The firm has a market capitalization of $17.26 billion, a P/E ratio of 50.87, a PEG ratio of 4.55 and a beta of 0.92. RB Global, Inc. has a one year low of $60.84 and a one year high of $94.85. The company’s fifty day moving average is $84.91 and its two-hundred day moving average is $80.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. RB Global’s payout ratio is currently 63.04%.

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.