Insider Selling: RB Global, Inc. (NYSE:RBA) CRO Sells 600 Shares of Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CRO James J. Jeter sold 600 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now directly owns 19,667 shares of the company’s stock, valued at $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

RB Global Price Performance

Shares of NYSE:RBA traded up $1.16 during trading on Monday, hitting $100.12. 887,644 shares of the stock were exchanged, compared to its average volume of 1,120,426. The company has a market cap of $18.49 billion, a PE ratio of 49.81, a P/E/G ratio of 4.95 and a beta of 0.94. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average price of $95.35 and a two-hundred day moving average price of $90.91. RB Global, Inc. has a 12-month low of $69.83 and a 12-month high of $106.90.

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

RB Global Announces Dividend

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

Hedge Funds Weigh In On RB Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares in the last quarter. State Street Corp grew its holdings in RB Global by 2.1% during the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after buying an additional 103,080 shares during the last quarter. Geode Capital Management LLC increased its position in RB Global by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock worth $357,434,000 after buying an additional 264,778 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of RB Global by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock worth $307,033,000 after acquiring an additional 19,895 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

RBA has been the subject of several analyst reports. Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird upped their price objective on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. CIBC lowered their target price 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. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Raymond James lifted their price objective on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

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.