Shell Asset Management Co. Has $620,000 Stake in RB Global, Inc. (NYSE:RBA)

Shell Asset Management Co. trimmed its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 22.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,876 shares of the business services provider’s stock after selling 2,000 shares during the quarter. Shell Asset Management Co.’s holdings in RB Global were worth $620,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. ProShare Advisors LLC increased its position in RB Global by 7.4% during the fourth quarter. ProShare Advisors LLC now owns 8,628 shares of the business services provider’s stock worth $778,000 after buying an additional 595 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of RB Global by 7.3% in the fourth quarter. Quantinno Capital Management LP now owns 30,005 shares of the business services provider’s stock worth $2,707,000 after purchasing an additional 2,032 shares during the period. Nomura Holdings Inc. bought a new position in shares of RB Global in the fourth quarter worth about $2,207,000. Millennium Management LLC increased its stake in shares of RB Global by 93.3% in the fourth quarter. Millennium Management LLC now owns 499,592 shares of the business services provider’s stock worth $45,068,000 after purchasing an additional 241,141 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of RB Global by 15.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,354 shares of the business services provider’s stock worth $2,829,000 after purchasing an additional 4,126 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the firm’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 completion of the transaction, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. This trade represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO James J. Jeter sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $106.96, for a total transaction of $213,920.00. Following the transaction, the executive now owns 14,167 shares of the company’s stock, valued at approximately $1,515,302.32. This represents a 12.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,472 shares of company stock worth $3,867,745 over the last quarter. Company insiders own 4.32% of the company’s stock.

RB Global Stock Up 1.3%

RBA stock opened at $108.24 on Monday. RB Global, Inc. has a twelve month low of $70.27 and a twelve month high of $108.80. The company has a market cap of $20.04 billion, a PE ratio of 53.85, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. The business’s 50-day simple moving average is $98.94 and its 200 day simple moving average is $95.63. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $1.06 billion for 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 firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. On average, research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The firm 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. This represents a $1.16 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, May 29th. RB Global’s dividend payout ratio is 57.14%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RBA shares. CIBC lifted their price objective on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th. Raymond James lifted their price objective on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. 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 note on Wednesday, February 19th. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, 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 note on Thursday, May 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.50.

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.