RB Global (NYSE:RBA) Hits New 1-Year High at $81.87

RB Global, Inc. (NYSE:RBA) (TSE:RBA)’s stock price hit a new 52-week high on Thursday . The company traded as high as $81.87 and last traded at $81.05, with a volume of 109685 shares changing hands. The stock had previously closed at $81.04.

Analyst Ratings Changes

A number of brokerages have issued reports on RBA. CIBC started coverage on shares of RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price on the stock. Scotiabank boosted their price objective on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 24th. Finally, Bank of America increased their target price on 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

RB Global Trading Down 0.5 %

The firm has a 50-day moving average of $76.78 and a 200 day moving average of $72.94. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $14.75 billion, a price-to-earnings ratio of 48.82, a PEG ratio of 5.56 and a beta of 0.91.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 6.87% and a net margin of 8.08%. As a group, equities analysts predict that RB Global, Inc. will post 2.04 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Wednesday, May 29th. RB Global’s dividend payout ratio (DPR) is presently 65.06%.

Insider Activity at RB Global

In other RB Global news, insider Baron Concors sold 13,230 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the completion of the transaction, the insider now directly owns 15,487 shares of the company’s stock, valued at approximately $1,162,299.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO James Francis Kessler sold 8,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Baron Concors sold 13,230 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total transaction of $992,911.50. Following the sale, the insider now owns 15,487 shares of the company’s stock, valued at $1,162,299.35. The disclosure for this sale can be found here. Insiders have sold 43,867 shares of company stock worth $3,370,272 over the last quarter. 4.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

A number of institutional investors and hedge funds have recently modified their holdings of RBA. Assenagon Asset Management S.A. lifted its holdings in shares of RB Global by 11.6% during the second quarter. Assenagon Asset Management S.A. now owns 9,360 shares of the business services provider’s stock valued at $714,000 after purchasing an additional 970 shares during the last quarter. Cigna Investments Inc. New raised its holdings in RB Global by 6.6% during the 2nd quarter. Cigna Investments Inc. New now owns 3,440 shares of the business services provider’s stock worth $262,000 after buying an additional 212 shares during the period. QV Investors Inc. lifted its stake in RB Global by 22.2% during the second quarter. QV Investors Inc. now owns 419,240 shares of the business services provider’s stock valued at $31,968,000 after buying an additional 76,028 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of RB Global by 18.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,858 shares of the business services provider’s stock worth $295,000 after buying an additional 591 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of RB Global by 16.5% in the second quarter. Diversified Trust Co now owns 52,614 shares of the business services provider’s stock worth $4,018,000 after buying an additional 7,446 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.