Envestnet Asset Management Inc. Sells 10,986 Shares of RB Global, Inc. (NYSE:RBA)

Envestnet Asset Management Inc. lessened its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 389,123 shares of the business services provider’s stock after selling 10,986 shares during the period. Envestnet Asset Management Inc. owned about 0.21% of RB Global worth $35,103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new stake in RB Global during the 4th quarter valued at approximately $27,000. Versant Capital Management Inc boosted its stake in shares of RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of 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 buying an additional 129 shares during the period. Proficio Capital Partners LLC bought a new position in RB Global during the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC acquired a new position in RB Global in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE RBA opened at $97.04 on Friday. The stock has a market cap of $17.93 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 4.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The firm’s 50-day simple moving average is $97.69 and its 200 day simple moving average is $92.30.

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 analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.82 EPS. As a group, research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. RB Global’s payout ratio is 57.71%.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of recent analyst reports. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. BMO Capital Markets raised their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James boosted their target price 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. Royal Bank of Canada raised their price target 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. Finally, Robert W. Baird upped their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.56.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of the 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 sale, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO James J. Jeter sold 600 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the transaction, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock valued at $2,338,161 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

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.