RB Global, Inc. (NYSE:RBA) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lessened its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 95.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,500 shares of the business services provider’s stock after selling 70,500 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in RB Global were worth $316,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC purchased a new position in RB Global in the 3rd quarter valued at $897,000. Commerce Bank boosted its holdings in RB Global by 10.6% in the 3rd quarter. Commerce Bank now owns 14,906 shares of the business services provider’s stock valued at $1,200,000 after purchasing an additional 1,426 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of RB Global by 16.8% in the 3rd quarter. Intech Investment Management LLC now owns 21,413 shares of the business services provider’s stock valued at $1,725,000 after buying an additional 3,081 shares during the period. Citigroup Inc. increased its holdings in shares of RB Global by 7.7% during the 3rd quarter. Citigroup Inc. now owns 51,792 shares of the business services provider’s stock worth $4,173,000 after buying an additional 3,682 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of RB Global by 89.7% during the 3rd quarter. Cerity Partners LLC now owns 8,844 shares of the business services provider’s stock valued at $712,000 after buying an additional 4,182 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Performance

Shares of RBA stock opened at $100.12 on Tuesday. The firm has a 50 day moving average of $95.57 and a two-hundred day moving average of $91.03. The stock has a market capitalization of $18.49 billion, a PE ratio of 49.81, a P/E/G ratio of 4.95 and a beta of 0.94. 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 $69.83 and a 52 week high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the business posted $0.82 earnings per share. On average, research analysts predict 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 was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio is presently 57.71%.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction on 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 owns 20,267 shares of the company’s stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was 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 directly owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This trade represents a 12.74 % 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 90 days. 4.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RBA. BMO Capital Markets boosted their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Robert W. Baird boosted their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James raised their price target on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, CIBC cut their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.64.

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.