RB Global, Inc. (NYSE:RBA) Stake Trimmed by Royal Bank of Canada

Royal Bank of Canada lessened its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,363,409 shares of the business services provider’s stock after selling 52,987 shares during the period. Royal Bank of Canada owned about 0.74% of RB Global worth $122,994,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC raised its position in RB Global by 7.4% during the fourth quarter. ProShare Advisors LLC now owns 8,628 shares of the business services provider’s stock valued at $778,000 after buying an additional 595 shares during the period. Quantinno Capital Management LP boosted its position in RB Global by 7.3% during the 4th quarter. Quantinno Capital Management LP now owns 30,005 shares of the business services provider’s stock worth $2,707,000 after acquiring an additional 2,032 shares during the period. Nomura Holdings Inc. acquired a new position in shares of RB Global in the 4th quarter valued at about $2,207,000. Millennium Management LLC lifted its position in shares of RB Global by 93.3% in the fourth quarter. Millennium Management LLC now owns 499,592 shares of the business services provider’s stock worth $45,068,000 after purchasing an additional 241,141 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of RB Global by 15.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,354 shares of the business services provider’s stock worth $2,829,000 after purchasing an additional 4,126 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 7,597 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now directly owns 20,267 shares in the company, valued at approximately $1,983,125.95. The trade was a 27.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew John Fesler sold 9,075 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total value of $950,334.00. Following the completion of the transaction, the insider now owns 5,532 shares of the company’s stock, valued at $579,311.04. The trade was a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,472 shares of company stock valued at $3,867,745 in the last ninety days. Company insiders own 4.32% of the company’s stock.

RB Global Stock Performance

Shares of RBA opened at $108.24 on Monday. 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 company’s fifty day moving average price is $98.94 and its 200 day moving average price is $95.63. The company has a market capitalization of $20.04 billion, a PE ratio of 53.85, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a one year low of $70.27 and a one year high of $108.80.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors 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 1.07%. The ex-dividend date is Thursday, May 29th. RB Global’s payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of research analyst reports. Raymond James increased their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. National Bankshares cut their price target on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Robert W. Baird lifted their price target on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, CIBC lifted their target price on shares of RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.50.

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.