Ameriprise Financial Inc. Reduces Stock Holdings in RB Global, Inc. (NYSE:RBA)

Ameriprise Financial Inc. reduced its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 23.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 660,721 shares of the business services provider’s stock after selling 203,501 shares during the period. Ameriprise Financial Inc.’s holdings in RB Global were worth $59,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. City Center Advisors LLC acquired a new stake in shares of RB Global during the fourth quarter worth $338,000. Armstrong Henry H Associates Inc. lifted its position in RB Global by 3.9% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 8,305 shares of the business services provider’s stock worth $749,000 after acquiring an additional 310 shares during the period. Park Avenue Securities LLC grew its stake in RB Global by 8.9% during the 4th quarter. Park Avenue Securities LLC now owns 8,082 shares of the business services provider’s stock valued at $729,000 after purchasing an additional 658 shares during the last quarter. Cypress Wealth Services LLC acquired a new position in shares of RB Global in the fourth quarter valued at about $224,000. Finally, Avanza Fonder AB purchased a new position in shares of RB Global in the fourth quarter worth about $1,234,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction on 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 sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares of the company’s stock, valued at $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank of Canada upped their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research note on Friday. Raymond James boosted their target price on shares of RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday. CIBC increased their price target on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Friday. Finally, BMO Capital Markets boosted their price objective on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.50.

RB Global Price Performance

NYSE:RBA opened at $105.91 on Friday. 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, Inc. has a 52 week low of $70.27 and a 52 week high of $106.90. The stock’s 50-day moving average price is $98.33 and its 200-day moving average price is $94.86. The stock has a market capitalization of $19.61 billion, a PE ratio of 52.69, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. RB Global’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. As a group, equities analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s dividend payout ratio is presently 57.14%.

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.