RB Global, Inc. (NYSE:RBA) Shares Sold by Tobam

Tobam reduced its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 98.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 820 shares of the business services provider’s stock after selling 40,625 shares during the period. Tobam’s holdings in RB Global were worth $82,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in RBA. CoreCap Advisors LLC lifted its stake in shares of RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the period. MV Capital Management Inc. raised its position in RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after acquiring an additional 278 shares during the period. Jones Financial Companies Lllp raised its position in RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after acquiring an additional 129 shares during the period. Proficio Capital Partners LLC acquired a new position in RB Global during the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC acquired a new position in RB Global during the fourth quarter worth $37,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RBA has been the subject of a number of research reports. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Robert W. Baird upped their target price on shares of RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Royal Bank of Canada upped 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. Raymond James upped their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, CIBC upped their target price on shares of RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.50.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This trade represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO James J. Jeter sold 600 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the transaction, the executive now directly owns 19,667 shares of the company’s stock, valued at approximately $1,939,756.21. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,972 shares of company stock valued at $4,345,510 over the last 90 days. 4.32% of the stock is owned by company insiders.

RB Global Trading Down 0.9%

Shares of RBA opened at $106.39 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 12-month low of $70.38 and a 12-month high of $109.25. The firm has a 50-day moving average price of $102.47 and a 200 day moving average price of $97.53. The firm has a market capitalization of $19.70 billion, a P/E ratio of 52.93, a P/E/G ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. RB Global’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, May 29th. RB Global’s dividend payout ratio (DPR) is presently 57.14%.

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.