Legal & General Group Plc Trims Stock Position in RB Global, Inc. (NYSE:RBA)

Legal & General Group Plc cut its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 34.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 714,643 shares of the business services provider’s stock after selling 367,535 shares during the quarter. Legal & General Group Plc’s holdings in RB Global were worth $64,467,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of RB Global by 5.9% during the fourth quarter. Invesco Ltd. now owns 1,919,431 shares of the business services provider’s stock valued at $173,152,000 after purchasing an additional 106,627 shares in the last quarter. Bank of Montreal Can lifted its position in RB Global by 6.7% during the fourth quarter. Bank of Montreal Can now owns 1,090,789 shares of the business services provider’s stock valued at $98,325,000 after buying an additional 68,423 shares during the period. FMR LLC boosted its holdings in shares of RB Global by 137.5% during the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after buying an additional 1,623,429 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of RB Global by 2.3% in the 4th quarter. Wells Fargo & Company MN now owns 60,458 shares of the business services provider’s stock worth $5,454,000 after buying an additional 1,386 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of RB Global by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock worth $357,434,000 after acquiring an additional 264,778 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is owned by insiders.

RB Global Stock Up 2.4 %

RB Global stock opened at $97.04 on Friday. The firm 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 current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a 12 month low of $69.83 and a 12 month high of $106.90. The stock has a fifty day simple moving average of $97.69 and a two-hundred day simple moving average of $92.30.

RB Global (NYSE:RBA) (TSE:RBA) last issued 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). The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period last year, the firm posted $0.82 EPS. Equities analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. RB Global’s dividend payout ratio (DPR) is 57.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RBA shares. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Raymond James raised their price objective on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. National Bankshares dropped their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada raised their price target on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.56.

RB Global 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.