Insider Selling: RB Global, Inc. (NYSE:RBA) Director Sells $84,936.00 in Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) Director Adam Dewitt sold 800 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the sale, the director now directly owns 5,865 shares of the company’s stock, valued at $622,687.05. The trade was a 12.00% 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 Trading Down 0.9%

Shares of RB Global stock opened at $106.39 on Friday. The company has a 50-day moving average of $102.47 and a two-hundred day moving average of $97.53. RB Global, Inc. has a 12-month low of $70.38 and a 12-month high of $109.25. 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 stock has a market cap of $19.70 billion, a PE ratio of 52.93, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted $0.90 EPS. RB Global’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, May 29th. RB Global’s payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RBA shares. Raymond James upped their target price on shares of RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. National Bankshares dropped their price target on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird boosted their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets boosted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.50.

Hedge Funds Weigh In On RB Global

Several hedge funds have recently bought and sold shares of RBA. CoreCap Advisors LLC increased its stake in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. SouthState Corp purchased a new position in RB Global during the first quarter worth $26,000. MV Capital Management Inc. increased its position in RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after buying an additional 278 shares in the last quarter. SVB Wealth LLC purchased a new position in RB Global during the first quarter worth $28,000. Finally, Jones Financial Companies Lllp increased its position in RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after buying an additional 129 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.