Pictet Asset Management Holding SA Grows Stock Holdings in RB Global, Inc. (NYSE:RBA)

Pictet Asset Management Holding SA increased its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 16.0% during the 4th quarter, HoldingsChannel reports. The firm owned 100,318 shares of the business services provider’s stock after buying an additional 13,836 shares during the period. Pictet Asset Management Holding SA’s holdings in RB Global were worth $9,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RBA. Central Pacific Bank Trust Division purchased a new position in shares of RB Global in the 4th quarter worth $27,000. Versant Capital Management Inc boosted its position in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of 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 purchasing an additional 129 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of RB Global during the 4th quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of RB Global in the 4th quarter worth approximately $40,000. Institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In related news, CRO James J. Jeter sold 600 shares of RB Global stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the transaction, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 107,569 shares in the company, valued at approximately $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 a total of 23,897 shares of company stock valued at $2,338,161 in the last quarter. 4.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RBA has been the subject of several recent research reports. CIBC cut their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Robert W. Baird upped their price objective on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada increased their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Trading Up 0.6 %

Shares of RBA opened at $100.95 on Thursday. RB Global, Inc. has a 1 year low of $69.83 and a 1 year high of $106.90. The company has a 50 day simple moving average of $97.02 and a two-hundred day simple moving average of $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 cap of $18.65 billion, a P/E ratio of 50.22, a price-to-earnings-growth 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 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, equities analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.29 per share. 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 presently 57.71%.

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.