RB Global, Inc. (RBA) to Issue Quarterly Dividend of $0.29 on December 18th

RB Global, Inc. (NYSE:RBA) (TSE:RBA) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Wednesday, November 27th will be given a dividend of 0.29 per share by the business services provider on Wednesday, December 18th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, November 27th.

RB Global has raised its dividend by an average of 8.7% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. RB Global has a dividend payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of RBA opened at $97.99 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $85.55 and its 200 day simple moving average is $81.29. RB Global has a 1-year low of $60.84 and a 1-year high of $97.99. The company has a market cap of $18.07 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 4.70 and a beta of 0.92.

Wall Street Analysts Forecast Growth

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

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. The trade was a 17.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

RB Global Company 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.