Bank of America Corp DE Has $91.80 Million Stock Position in RB Global, Inc. (NYSE:RBA)

Bank of America Corp DE reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,017,575 shares of the business services provider’s stock after selling 87,764 shares during the period. Bank of America Corp DE owned about 0.55% of RB Global worth $91,795,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Natixis Advisors LLC lifted its stake in RB Global by 69.5% in the 4th quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock valued at $1,703,000 after purchasing an additional 7,737 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in RB Global by 15.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider’s stock valued at $10,876,000 after purchasing an additional 16,397 shares during the last quarter. Vanguard Group Inc. lifted its stake in RB Global by 1.5% in the 4th 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. MetLife Investment Management LLC lifted its position in RB Global by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider’s stock worth $9,376,000 after acquiring an additional 8,723 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of RB Global by 16.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider’s stock worth $9,050,000 after acquiring an additional 13,836 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. CIBC increased their target price on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Friday. National Bankshares lowered their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Friday. BMO Capital Markets increased their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird increased their target price on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.50.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. This trade represents a 27.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the firm’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 sale, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock worth $2,338,161 in the last 90 days. Company insiders own 4.32% of the company’s stock.

RB Global Price Performance

RB Global stock opened at $105.91 on Monday. The stock’s fifty day moving average price is $98.33 and its two-hundred day moving average price is $94.93. RB Global, Inc. has a one year low of $70.27 and a one year high of $106.90. 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 cap of $19.61 billion, a PE ratio of 52.69, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company earned $0.90 EPS. The company’s revenue was up 4.1% on a year-over-year basis. As a group, research analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. RB Global’s dividend payout ratio (DPR) is presently 57.14%.

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.