Insider Selling: RB Global, Inc. (NYSE:RBA) CRO Sells $365,330.00 in Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) CRO James J. Jeter sold 3,500 shares of RB Global stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $104.38, for a total value of $365,330.00. Following the completion of the transaction, the executive now directly owns 16,167 shares of the company’s stock, valued at approximately $1,687,511.46. This trade represents a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

RB Global Stock Performance

Shares of RBA opened at $106.87 on Friday. 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 stock has a 50-day moving average of $98.75 and a 200-day moving average of $95.35. The company has a market cap of $19.79 billion, a PE ratio of 53.17, a P/E/G 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 $107.99.

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

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.09%. RB Global’s dividend payout ratio (DPR) is currently 57.14%.

Hedge Funds Weigh In On RB Global

Hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC boosted its stake in RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. SouthState Corp purchased a new position in shares of RB Global in the 1st quarter worth approximately $26,000. MV Capital Management Inc. boosted its stake in shares of RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after buying an additional 278 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of RB Global in the 1st quarter worth approximately $28,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of RB Global by 49.4% in the 4th 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 last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RBA has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. National Bankshares lowered their price objective on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Robert W. Baird lifted their price objective on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. CIBC lifted their price objective on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Friday, May 9th. Finally, BMO Capital Markets raised their target price on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average target price of $114.50.

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.