Corebridge Financial Inc. Sells 9,217 Shares of RB Global, Inc. (NYSE:RBA)

Corebridge Financial Inc. lessened its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,662 shares of the business services provider’s stock after selling 9,217 shares during the period. Corebridge Financial Inc. owned about 0.11% of RB Global worth $18,823,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in RB Global by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock valued at $3,674,000 after acquiring an additional 113 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of RB Global by 49.4% during 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 during the period. Summit Trail Advisors LLC increased its stake in RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after buying an additional 137 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in RB Global by 25.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock valued at $64,000 after buying an additional 143 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after buying an additional 176 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RBA. CIBC decreased their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets upped their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James raised their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada increased their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price target 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. One equities research analyst has rated the stock with a hold rating and six have given 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 a consensus price target of $107.64.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 600 shares of RB Global stock in a transaction on 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 in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock worth $2,338,161 in the last three months. Corporate insiders own 4.32% of the company’s stock.

RB Global Trading Up 1.2 %

NYSE:RBA opened at $100.12 on Tuesday. The firm has a 50 day moving average of $95.57 and a 200 day moving average of $91.03. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last announced 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 return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is currently 57.71%.

RB Global 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.