Insider Selling: RB Global, Inc. (NYSE:RBA) CRO Sells 7,597 Shares of Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CRO James J. Jeter sold 7,597 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. The trade was a 27.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

RB Global Stock Down 0.5 %

Shares of NYSE RBA opened at $98.78 on Friday. RB Global, Inc. has a 52-week low of $69.83 and a 52-week high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The business has a fifty day moving average of $95.14 and a two-hundred day moving average of $90.73. The stock has a market cap of $18.25 billion, a PE ratio of 49.15, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the prior year, the business earned $0.82 earnings per share. As a group, equities research analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is currently 57.71%.

Institutional Investors Weigh In On RB Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Natixis Advisors LLC bought a new stake in shares of RB Global during the third quarter worth $897,000. Swiss National Bank lifted its position in RB Global by 1.2% during the 3rd quarter. Swiss National Bank now owns 555,543 shares of the business services provider’s stock worth $44,783,000 after buying an additional 6,400 shares in the last quarter. Commerce Bank grew its holdings in RB Global by 10.6% during the 3rd quarter. Commerce Bank now owns 14,906 shares of the business services provider’s stock worth $1,200,000 after acquiring an additional 1,426 shares during the last quarter. PCJ Investment Counsel Ltd. increased its position in RB Global by 32.0% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 207,660 shares of the business services provider’s stock valued at $16,714,000 after acquiring an additional 50,320 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in RB Global by 16.8% in the 3rd quarter. Intech Investment Management LLC now owns 21,413 shares of the business services provider’s stock valued at $1,725,000 after acquiring an additional 3,081 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. CIBC cut their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird lifted their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. BMO Capital Markets increased their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James lifted their target price on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research 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 stock. According to data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average target price of $107.64.

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.