Insider Selling: RB Global, Inc. (NYSE:RBA) Insider Sells 9,075 Shares of Stock

RB Global, Inc. (NYSE:RBA) (TSE:RBA) insider Andrew John Fesler sold 9,075 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the sale, the insider now owns 5,532 shares of the company’s stock, valued at approximately $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

RB Global Stock Up 1.3%

Shares of NYSE:RBA opened at $106.87 on Friday. The company’s 50-day moving average price is $98.75 and its two-hundred day moving average price is $95.35. The firm has a market cap of $19.79 billion, a P/E ratio of 53.17, a P/E/G ratio of 4.95 and a beta of 0.78. RB Global, Inc. has a 12 month low of $70.27 and a 12 month high of $107.99. 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 posted its quarterly 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. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. RB Global’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a $0.29 dividend. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.09%. RB Global’s dividend payout ratio is 57.14%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RBA. CIBC increased their target price on shares of RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Friday, May 9th. Robert W. Baird raised their price target on shares of RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. National Bankshares cut their price objective on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Raymond James boosted their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets increased their price objective on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC boosted its position in shares of RB Global by 69.5% during the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock worth $1,703,000 after purchasing an additional 7,737 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in RB Global by 15.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider’s stock worth $10,876,000 after acquiring an additional 16,397 shares in the last quarter. Vanguard Group Inc. grew its stake in RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after acquiring an additional 358,752 shares during the period. MetLife Investment Management LLC increased its holdings in shares of RB Global by 9.2% in the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider’s stock worth $9,376,000 after acquiring an additional 8,723 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of RB Global by 16.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider’s stock worth $9,050,000 after purchasing an additional 13,836 shares during the period. Institutional investors own 95.37% of the company’s stock.

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.