James Francis Kessler Sells 15,700 Shares of RB Global, Inc. (NYSE:RBA) Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CEO James Francis Kessler sold 15,700 shares of the company’s 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 transaction, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

RB Global Stock Up 2.0 %

Shares of RBA traded up $1.96 during mid-day trading on Wednesday, hitting $99.22. 850,765 shares of the company’s stock were exchanged, compared to its average volume of 1,107,533. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. 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 has a 50-day simple moving average of $94.80 and a 200 day simple moving average of $90.61. The company has a market cap of $18.33 billion, a PE ratio of 49.36, a P/E/G 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 the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $0.82 EPS. On average, research analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio is currently 57.71%.

Institutional Investors Weigh In On RB Global

Hedge funds and other institutional investors have recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in shares of RB Global in the fourth quarter worth $27,000. Diversified Trust Co increased its position in shares of RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock worth $5,694,000 after purchasing an additional 20,724 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after purchasing an additional 20,795 shares during the period. SRS Capital Advisors Inc. increased its position in shares of RB Global by 163.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock worth $58,000 after purchasing an additional 400 shares during the period. Finally, Vontobel Holding Ltd. increased its position in shares of RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after purchasing an additional 753,700 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of research reports. Robert W. Baird upped their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC cut their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Raymond James increased their price target on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets increased their price target on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada increased their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

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.