RB Global, Inc. (NYSE:RBA) Declares $0.31 Quarterly Dividend

RB Global, Inc. (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Wednesday, November 5th. Shareholders of record on Wednesday, November 26th will be paid a dividend of 0.31 per share by the business services provider on Wednesday, December 17th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th.

RB Global has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 20 consecutive years. RB Global has a dividend payout ratio of 30.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect RB Global to earn $3.41 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 36.4%.

RB Global Stock Performance

RBA stock traded up $3.46 during midday trading on Friday, reaching $99.67. 1,061,556 shares of the company were exchanged, compared to its average volume of 1,089,705. RB Global has a one year low of $85.55 and a one year high of $119.58. The firm has a market capitalization of $18.51 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66. The business has a 50-day moving average price of $107.95 and a two-hundred day moving average price of $107.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company posted $0.71 EPS. RB Global’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts forecast that RB Global will post 2.5 EPS for the current year.

Insider Activity at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SouthState Corp bought a new stake in RB Global during the first quarter worth $26,000. SVB Wealth LLC acquired a new position in shares of RB Global during the 1st quarter worth $28,000. IFP Advisors Inc lifted its position in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after buying an additional 279 shares during the last quarter. Spire Wealth Management lifted its position in shares of RB Global by 1,090.6% during the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after buying an additional 349 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in RB Global in the first quarter valued at about $38,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.