Wellington Management Group LLP Sells 83,064 Shares of RB Global, Inc. (NYSE:RBA)

Wellington Management Group LLP reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 4.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,834,933 shares of the business services provider’s stock after selling 83,064 shares during the period. Wellington Management Group LLP owned 0.99% of RB Global worth $165,529,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RBA. Central Pacific Bank Trust Division bought a new stake in shares of RB Global in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc grew its stake in RB Global by 136.4% in 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. Jones Financial Companies Lllp raised its holdings in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 129 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of RB Global during the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC bought a new position in shares of RB Global in the fourth quarter worth $37,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RBA has been the topic of a number of recent research reports. Raymond James increased their price objective on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Royal Bank of Canada raised their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC decreased 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. Finally, Robert W. Baird raised 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.64.

Insider Buying and Selling at RB Global

In related news, CRO James J. Jeter sold 600 shares of the stock in a transaction dated Friday, March 21st. The stock was 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 $1,939,756.21. This represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The stock was 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 $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock worth $2,338,161 over the last ninety days. Insiders own 4.32% of the company’s stock.

RB Global Price Performance

Shares of NYSE:RBA opened at $100.95 on Thursday. The company’s fifty day moving average price is $97.02 and its 200-day moving average price is $91.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The firm has a market capitalization of $18.65 billion, a price-to-earnings ratio of 50.22, a PEG ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business earned $0.82 EPS. On average, equities research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio is currently 57.71%.

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.