RB Global, Inc. (NYSE:RBA) Shares Purchased by Korea Investment CORP

Korea Investment CORP raised its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 90.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,702 shares of the business services provider’s stock after buying an additional 47,300 shares during the period. Korea Investment CORP owned about 0.05% of RB Global worth $8,994,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after purchasing an additional 358,752 shares in the last quarter. Vontobel Holding Ltd. boosted 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 buying an additional 753,700 shares during the period. State Street Corp grew its stake in shares of RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after buying an additional 103,080 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RB Global by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock valued at $297,400,000 after buying an additional 108,188 shares during the period. Finally, Janus Henderson Group PLC lifted its position in RB Global by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock worth $272,293,000 after acquiring an additional 24,101 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was 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 directly owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the firm’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 value of $743,366.45. Following the completion of the sale, the executive now directly owns 20,267 shares in the company, valued at approximately $1,983,125.95. This trade represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,897 shares of company stock valued at $2,338,161. Company insiders own 4.32% of the company’s stock.

RB Global Stock Performance

Shares of RBA stock opened at $100.53 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 4.95 and a beta of 0.94. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The company’s 50-day simple moving average is $96.61 and its 200-day simple moving average is $91.59.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $0.82 EPS. Equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid 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 1.15%. RB Global’s payout ratio is 57.71%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RBA shares. Royal Bank of Canada increased their price objective 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. BMO Capital Markets lifted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. CIBC lowered their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Finally, Raymond James boosted their price target on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and a consensus price target 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.