Sei Investments Co. Purchases 98,462 Shares of RB Global, Inc. (NYSE:RBA)

Sei Investments Co. increased its position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 21.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 550,771 shares of the business services provider’s stock after buying an additional 98,462 shares during the quarter. Sei Investments Co.’s holdings in RB Global were worth $49,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in RB Global during the fourth quarter valued at about $266,148,000. Vontobel Holding Ltd. grew its holdings in RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares during the last quarter. National Bank of Canada FI increased its position in RB Global by 309.6% in the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after buying an additional 610,843 shares during the period. FMR LLC lifted its holdings in shares of RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after buying an additional 445,004 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after acquiring an additional 354,803 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Up 0.3 %

Shares of NYSE:RBA opened at $99.14 on Monday. RB Global, Inc. has a 52 week low of $69.83 and a 52 week high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company’s fifty day moving average is $95.35 and its 200-day moving average is $90.91. The company has a market capitalization of $18.32 billion, a PE ratio of 49.33, a P/E/G ratio of 4.95 and a beta of 0.94.

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

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.17%. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the sale, the executive now directly 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. 4.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Raymond James upped their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. BMO Capital Markets lifted their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Robert W. Baird lifted their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note 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.com, RB Global 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.