RB Global (NYSE:RBA) Upgraded at StockNews.com

StockNews.com upgraded shares of RB Global (NYSE:RBAFree Report) (TSE:RBA) from a sell rating to a hold rating in a report issued on Friday.

Several other analysts have also recently issued reports on the company. Royal Bank of Canada cut their price objective on RB Global from $75.00 to $73.00 and set an outperform rating on the stock in a research note on Friday, November 10th. Scotiabank increased their price target on RB Global from $74.00 to $76.00 and gave the stock a sector outperform rating in a research report on Tuesday, February 6th. Finally, National Bankshares increased their price target on RB Global from $71.00 to $73.00 and gave the stock an outperform rating in a research report on Friday, November 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $71.83.

Read Our Latest Analysis on RB Global

RB Global Trading Down 0.7 %

Shares of RBA opened at $68.15 on Friday. The company has a market capitalization of $12.44 billion, a P/E ratio of 81.13, a P/E/G ratio of 5.15 and a beta of 0.83. RB Global has a one year low of $51.07 and a one year high of $69.01. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.18 and a current ratio of 1.31. The stock has a 50-day moving average price of $64.88 and a 200 day moving average price of $63.54.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, February 8th. RB Global’s dividend payout ratio is currently 128.57%.

Insider Activity at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 1,094 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $65.94, for a total transaction of $72,138.36. Following the completion of the transaction, the insider now directly owns 14,880 shares of the company’s stock, valued at approximately $981,187.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Ann Fandozzi sold 238,368 shares of RB Global stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $62.19, for a total value of $14,824,105.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Darren Jeffrey Watt sold 1,094 shares of RB Global stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $65.94, for a total transaction of $72,138.36. Following the completion of the transaction, the insider now owns 14,880 shares of the company’s stock, valued at approximately $981,187.20. The disclosure for this sale can be found here. Insiders have sold a total of 243,212 shares of company stock worth $15,139,394 in the last three months. 4.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RBA. Headlands Technologies LLC bought a new position in shares of RB Global in the third quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new position in RB Global in the 3rd quarter worth approximately $26,000. Oakworth Capital Inc. raised its position in RB Global by 53.3% in the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after purchasing an additional 162 shares during the last quarter. Cornerstone Planning Group LLC bought a new position in RB Global in the 2nd quarter worth approximately $45,000. Finally, Belpointe Asset Management LLC raised its position in RB Global by 134.7% in the 1st quarter. Belpointe Asset Management LLC now owns 913 shares of the business services provider’s stock worth $51,000 after purchasing an additional 524 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

About RB Global

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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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.

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