RB Global, Inc. (NYSE:RBA) Declares Quarterly Dividend of $0.29

RB Global, Inc. (NYSE:RBA) (TSE:RBA) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Wednesday, November 27th will be paid a dividend of 0.29 per share by the business services provider on Wednesday, December 18th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Wednesday, November 27th.

RB Global has raised its dividend by an average of 8.7% per year over the last three years and has increased its dividend every year for the last 20 years. RB Global has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RB Global to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 46.4%.

RB Global Trading Up 2.6 %

NYSE RBA opened at $97.81 on Monday. RB Global has a 52 week low of $60.84 and a 52 week high of $97.83. The firm has a 50 day moving average of $85.55 and a two-hundred day moving average of $81.29. The stock has a market capitalization of $18.04 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 4.70 and a beta of 0.92. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

Analysts Set New Price Targets

A number of analysts have weighed in on RBA shares. Royal Bank of Canada raised their price target on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird boosted their target price on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Raymond James increased their price target on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. BMO Capital Markets boosted their price objective on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Bank of America increased their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average price target of $98.36.

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,166,263.23. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.10% of the company’s stock.

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.