RB Global, Inc. (NYSE:RBA) CEO Sells $1,535,617.00 in Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction on 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link.

RB Global Price Performance

Shares of RBA traded up $1.96 during trading hours on Wednesday, hitting $99.22. The stock had a trading volume of 850,765 shares, compared to its average volume of 1,107,533. The company’s fifty day moving average is $94.80 and its two-hundred day moving average is $90.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The stock has a market capitalization of $18.33 billion, a price-to-earnings 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 posted its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the previous year, the company posted $0.82 EPS. On average, analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.17%. RB Global’s dividend payout ratio (DPR) is 57.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBA. Raymond James Financial Inc. acquired a new position in RB Global during the 4th quarter worth about $266,148,000. Norges Bank acquired a new position in RB Global during the 4th quarter worth about $209,931,000. FMR LLC lifted its position in RB Global by 137.5% during the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock worth $252,985,000 after buying an additional 1,623,429 shares in the last quarter. Vontobel Holding Ltd. lifted its position in RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after purchasing an additional 753,700 shares during the period. Finally, National Bank of Canada FI lifted its position in RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after purchasing an additional 610,843 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RBA. CIBC cut their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets boosted their price target on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Raymond James boosted their price target on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada boosted their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.64.

About RB Global

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.